Phase 2 clinical study of PEG-Interferon lambda commenced

ZymoGenetics, Inc. (NASDAQ: ZGEN) today announced the initiation of a Phase 2 clinical trial of PEG-Interferon lambda (IL-29) and ribavirin in treatment-naïve patients with chronic hepatitis C virus (HCV) infection (the “EMERGE” study). The first patient has been dosed in the study, triggering a $70 million milestone payment to ZymoGenetics from Bristol-Myers Squibb Company (NYSE:BMY), pursuant to the terms of a previously announced collaboration agreement.

“In the Phase 1b clinical trial, PEG-Interferon lambda demonstrated robust antiviral activity and was well tolerated in patients with genotype 1 hepatitis C,” said Eleanor L. Ramos, M.D., Senior Vice President and Chief Medical Officer of ZymoGenetics. “Because PEG-Interferon lambda binds to a unique receptor, it has the potential to treat HCV without many of the treatment-limiting side effects associated with current interferons.”