Valentis has granted a non exclusive license to Pfizer Inc for the Company's GeneSwitch gene regulation technology. This is the fourth such license Valentis has granted to major pharmaceutical and biotechnology companies since February 2001. The non-exclusive license is for research purposes only. Financial terms were not disclosed. Valentis maintains all rights to clinical gene therapy applications of the GeneSwitch gene regulation technology.

The GeneSwitch gene regulation system allows researchers to control the level and duration of selected genes in transgenic animals and cell cultures, aiding in the identification and characterization of a gene's function. Valentis also is currently developing the GeneSwitch gene regulation system as a component for its own Genemedicine products delivered with the Company's synthetic (lipid and polymer) delivery systems.

Valentis converts genomic discoveries into medicines. The Company applies its proprietary synthetic, lipid and polymer, gene delivery, gene regulation, and PEGylation technologies to create novel therapeutic products in the fields of cardiovascular disease, oncology, hematology, and infectious diseases. Enabled by its expertise in preclinical research & development, clinical development, and manufacturing, Valentis has created a broad product portfolio designed to improve the safety, efficacy and dosing characteristics of genes, proteins, peptides, antibodies, viruses and liposomes.