PSI-7977 
                + BMS-790052 Trial for Hepatitis C
              
              
                 
                  | SUMMARY Pharmasset announced the start of a Phase 2a study of an all-oral 
                    antiviral regimen of HCV polymerase inhibitor PSI-7977 plus 
                    NS5A replication complex inhibitor BMS-790052.
 | 
              
               The 
                advent of direct-acting antiviral agents that target different 
                steps of the hepatitis C virus (HCV) lifecycle is expected to 
                revolutionize chronic hepatitis C treatment.
The 
                advent of direct-acting antiviral agents that target different 
                steps of the hepatitis C virus (HCV) lifecycle is expected to 
                revolutionize chronic hepatitis C treatment. 
                
                The first 2 such drugs approved by the U.S. Food and Drug Administration 
                -- the HCV protease inhibitors boceprevir 
                (Victrelis) and telaprevir 
                (Incivek) -- are indicated for use in combination with current 
                standard therapy consisting of pegylated interferon plus ribavirin. 
                But hepatitis C patients and clinicians are eagerly awaiting all-oral 
                regimens that will avoid injected interferon and its difficult 
                side effects. 
                
                Pharmasset, Inc. announced last week that it will test a variety 
                of 24-week regimens of PSI-7977 plus Bristol-Myers Squibb's BMS-790052. 
                As reported at this year's EASL meeting in April, PSI-7977 
                worked well both with standard therapy and in an all-oral 
                regimen with PSI-938. A 
                combination of BMS-790052 plus BMS-650032 produced high response 
                rates in prior non-responders.
                
                The new Phase 2a trial will enroll treatment-naive patients with 
                both hard-to-treat HCV genotype 1 and genotypes 2 or 3. Some participants 
                will have a 1-week PSI-7977 monotherapy lead-in period before 
                adding BMS-790052. Other arms will start the 2 experimental drugs 
                plus ribavirin at the same time.
                
                Below is an edited excerpt from a recent 
                Pharmasset press release describing the trial.
                
              All-Oral 
                Combination Study with PSI-7977 for 
                HCV Genotypes 1, 2 and 3 Initiated
              Princeton, 
                N.J. -- May 26, 2011 -- Pharmasset, Inc. (Nasdaq: VRUS) announced 
                today the initiation of a Phase 2a trial investigating the combination 
                of Pharmasset's PSI-7977, a nucleotide polymerase inhibitor, and 
                BMS-790052, Bristol-Myers Squibb Company's (NYSE: BMY) NS5A replication 
                complex inhibitor, for the treatment of chronic hepatitis C (HCV). 
                This trial is the result of a clinical collaboration agreement 
                between Pharmasset and Bristol-Myers Squibb announced in January 
                2011.
                
                "We are happy to announce the initiation of this important 
                combination trial," stated William Symonds, Pharmasset's 
                Senior Vice President of Clinical Pharmacology and Translational 
                Medicine. "Recent data from Bristol-Myers Squibb's combination 
                study demonstrated that individuals with HCV can be cured without 
                the traditional interferon and ribavirin, but only if two potent 
                DAAs are used and drug resistance is avoided. We believe Pharmasset's 
                nucleotide analogs have demonstrated potent antiviral activity 
                and a high barrier to resistance and therefore have the potential 
                to be the future backbone of interferon-free treatment."
                
                About the Trial 
                
                This Phase 2a trial is planned to enroll approximately 84 patients 
                with chronic HCV genotypes 1, 2 or 3 who have not been treated 
                previously. The primary endpoint of the trial is sustained virologic 
                response (SVR). The trial will be conducted in the U.S. Subjects 
                will be randomized equally across each of the following arms: 
                
              
                 
                  |  | PSI-7977 
                    400mg QD for 7 days, then add BMS-790052 60mg QD for further 
                    23 weeks in genotype 1 subjects; | 
                 
                  |  | PSI-7977 
                    400mg QD for 7 days, then add BMS-790052 60mg QD for further 
                    23 weeks in genotype 2 or 3 subjects; | 
                 
                  |  | PSI-7977 
                    400mg QD and BMS-790052 60mg QD for 24 weeks in genotype 1 
                    subjects; | 
                 
                  |  | PSI-7977 
                    400mg QD and BMS-790052 60mg QD for 24 weeks in genotype 2 
                    or 3 subjects; | 
                 
                  |  | PSI-7977 
                    400mg QD, BMS-790052 60mg QD and ribavirin for 24 weeks in 
                    genotype 1 subjects; | 
                 
                  |  | PSI-7977 
                    400mg QD, BMS-790052 60mg QD and ribavirin for 24 weeks in 
                    genotype 2 or 3 subjects. | 
              
              Additional 
                details can be found at www.clinicaltrials.gov.
                
                About Pharmasset 
                
                 Pharmasset 
                is a clinical-stage pharmaceutical company committed to discovering, 
                developing, and commercializing novel drugs to treat viral infections. 
                Pharmasset's primary focus is development of oral therapeutics 
                for the treatment of hepatitis C virus (HCV) infection. Our research 
                and development efforts are focused on nucleoside/tide analogs, 
                a class of compounds which act as alternative substrates for the 
                viral polymerase, thus inhibiting viral replication. We currently 
                have three clinical-stage product candidates advancing in trials 
                in various populations. Our pyrimidine, PSI-7977, an unpartnered 
                uracil nucleotide analog, is currently under study in three Phase 
                2b trials in patients with HCV genotypes 1 through 6, including 
                abbreviated duration interferon and interferon-free regimens. 
                Our purine, PSI-938, an unpartnered guanosine nucleotide analog, 
                recently reported safety and efficacy data from 14-days of monotherapy 
                as well as 14 days in combination with the pyrimidine, PSI-7977. 
                An SVR-endpoint study of the purine-pyrimidine combination is 
                anticipated to begin third quarter 2011. Mericitabine (RG7128) 
                continues in two Phase 2b trials and one interferon-free trial 
                conducted through a strategic collaboration with Roche.
Pharmasset 
                is a clinical-stage pharmaceutical company committed to discovering, 
                developing, and commercializing novel drugs to treat viral infections. 
                Pharmasset's primary focus is development of oral therapeutics 
                for the treatment of hepatitis C virus (HCV) infection. Our research 
                and development efforts are focused on nucleoside/tide analogs, 
                a class of compounds which act as alternative substrates for the 
                viral polymerase, thus inhibiting viral replication. We currently 
                have three clinical-stage product candidates advancing in trials 
                in various populations. Our pyrimidine, PSI-7977, an unpartnered 
                uracil nucleotide analog, is currently under study in three Phase 
                2b trials in patients with HCV genotypes 1 through 6, including 
                abbreviated duration interferon and interferon-free regimens. 
                Our purine, PSI-938, an unpartnered guanosine nucleotide analog, 
                recently reported safety and efficacy data from 14-days of monotherapy 
                as well as 14 days in combination with the pyrimidine, PSI-7977. 
                An SVR-endpoint study of the purine-pyrimidine combination is 
                anticipated to begin third quarter 2011. Mericitabine (RG7128) 
                continues in two Phase 2b trials and one interferon-free trial 
                conducted through a strategic collaboration with Roche.
                
                For more information, see www.pharmasset.com.
                
                6/3/11
              Source
                Pharmasset, 
                Inc. All-Oral Combination Study with PSI-7977 for HCV Genotypes 
                1, 2 and 3 Initiated. Press release. May 26, 2011.