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Roche, Decode team up
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February 14, 2001: 11:26 a.m. ET
Swiss pharmaceutical firm to develop drugs culled from Icelandic research
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NEW YORK (CNNfn) - Swiss drugmaker Roche Holding Ltd. and Iceland's Decode Genetics, building on their earlier discoveries about the function of genes, announced Wednesday they will try to develop a gene-based treatment for schizophrenia and another for a disease that narrows the arteries.
Decode (DCGN: Research, Estimates), a biotech firm that has a $200 million strategic pact with Roche to find new drug targets, has identified genes associated with schizophrenia and peripheral arterial occlusive disease, which causes a narrowing of the arteries of the arms and legs. The company said it has identified proteins and enzymes linked to the genes that will aid researchers in crafting medicines to treat the disorders.
Drugmakers hope that once they understand which genes play a role in disease, they can develop medicines that treat the maladies at the molecular level. However, experts say that drugs developed through this method could be years away and that there's no guarantee they will pass clinical trials.
 Building on discoveries about the structure of the human genome, Reykjavik, Iceland-based Decode bought exclusive access to data about Iceland's population in an effort to research the inherited causes of common diseases. Iceland's population has remained relatively homogenous for centuries, making disease-related mutations in genes all the more striking.
"Our population-based research into the inherited causes of these major disease has gone more quickly than expected, and we are pleased to be working with a partner committed to moving so rapidly to turn this knowledge into products and services that can improve the health and lives of people around the world," Decode Genetics CEO Kari Stefansson said in a statement.
Under the collaborative pact, Decode receives milestone payments for its discoveries.
Other drugmakers also are working on genomic-based treatments for an array of diseases, biotechnology analyst Frank DiLorenzo noted. He said the company that appears furthest along in its development efforts is Rockville, Md.-based Human Genome Sciences Inc. (HGSI: Research, Estimates), which has two genome-based drugs in mid-stage clinical trials. The earliest those drugs could come to market is 2004, DiLorenzo forecast.
"Everyone is going to be more focused on this approach," he said. "The ultimate value (of genomics discoveries) is going to be in the drugs themselves."
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Shares of Decode Genetics gained 63 cents, or 6 percent, to $10.56 on the Nasdaq exchange in Wednesday morning trading. The stock is well off its 52-week high of $31.50.
In Switzerland, Roche shares slipped 154 Swiss francs, or 1 percent, to 15,335 in Wednesday afternoon trading. 
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