AXYS Pharmaceuticals And Signal Pharmaceuticals Enter Into Drug Discovery Collaboration.SOUTH SAN FRANCISCO South San Francisco, city (1990 pop. 54,312), San Mateo co., W Calif.; inc. 1908. South San Francisco has several industrial parks; its manufactures include medical supplies and equipment, foods, paint, paper products, consumer goods, and clothing. and SAN DIEGO--(BW HealthWire)-- July 14, 1998-- Agreement Will Focus On Screening Axys' Small Molecule Library Against Cell Signaling Cell signaling is part of a complex system of communication that governs basic cellular activities and coordinates cell actions. The ability of cells to perceive and correctly respond to their microenvironment is the basis of development, tissue repair, and immunity as well as Pathways Axys Pharmaceuticals, Inc. (Nasdaq: AXPH) and Signal Pharmaceuticals Inc. today announced they have entered into a collaboration for the accelerated discovery of compounds that interact with specific cell signaling pathways. Signal has developed proprietary assays for these signaling pathways which Signal will use to screen small molecules derived from Axys' Advanced Technologies division's compound libraries. The agreement provides that Axys will receive from Signal an upfront payment, as well as other payments upon the achievement of certain research and development milestones. The specific molecular targets and financial terms of the agreement were not disclosed. Bob Reed Robert Reed (born February 23, 1943 in Longview, Texas) was an American football offensive lineman in the National Football League for the Washington Redskins. He played college football for Tennessee State University. , Ph.D., vice president and general manager of Axys' Advanced Technologies division, stated, "This screening collaboration will provide Signal with compound libraries and the option to augment the program with Axys' advanced chemistry capabilities. Axys' combinatorial chemistry Combinatorial chemistry involves the rapid synthesis or the computer simulation of a large number of different but structurally related molecules. Introduction Synthesis of molecules in a combinatorial fashion can quickly lead to large numbers of molecules. program is focused on enabling its partners' medicinal chemistry Medicinal or pharmaceutical chemistry is a scientific discipline at the intersection of chemistry and pharmacology involved with designing, synthesizing and developing pharmaceutical drugs. efforts, and combines novel, highly diverse drug-like chemical libraries with the synthetic protocols to rapidly remake re·make tr.v. re·made , re·mak·ing, re·makes To make again or anew. n. 1. The act of remaking. 2. Something in remade form, especially a new version of an earlier movie or song. any individual compound or create new directed libraries around a partner's screening hits. We view this agreement with Signal as a material extension of our previous combinatorial chemistry deals with Pharmacia & Upjohn and Parke-Davis, and a creative format for Axys to use in collaborations with other biotech bi·o·tech n. Informal Biotechnology. biotech Noun short for biotechnology Noun 1. companies where there is clearly strength in biology and target identification." Alan Lewis David Alan Lewis (born 1 June 1964 in Cork, Ireland)[1] is an Irish former cricketer and current Rugby Union referee. His father Ian also played cricket for Ireland. , president and chief executive officer of Signal Pharmaceuticals, stated, "The goal of this program is to combine Axys' drug-like chemical libraries with our integrated target and drug discovery capabilities in order to rapidly identify and optimize novel compounds that regulate gene expression in targeted pathways. We chose Axys as a partner because of their ability to generate highly diverse screening libraries and perform value-added medicinal chemistry on drug leads, which we believe will allow for rapid and efficient evolution of Signal's six drug discovery programs." Axys Pharmaceuticals is a leader in the integration of life science technologies with a focus on transforming gene discoveries into drugs. The company has research collaborations with world-class pharmaceutical companies, covering a broad range of therapeutic areas, including respiratory, cardiovascular, and infectious disease Infectious disease A pathological condition spread among biological species. Infectious diseases, although varied in their effects, are always associated with viruses, bacteria, fungi, protozoa, multicellular parasites and aberrant proteins known as prions. , as well as oncology and central nervous system disorders Nervous system disorders A satisfactory classification of diseases of the nervous system should include not only the type of reaction (congenital malformation, infection, trauma, neoplasm, vascular diseases, and degenerative, metabolic, toxic, or deficiency . Signal Pharmaceuticals is an integrated target and drug discovery company focused on identifying new classes of small molecule drugs that regulate genes and the production of disease-causing proteins. The Company applies advanced cellular, molecular and genomic technologies to map gene-regulating pathways in cells and to identify proprietary molecular targets that activate or deactivate de·ac·ti·vate tr.v. de·ac·ti·vat·ed, de·ac·ti·vat·ing, de·ac·ti·vates 1. To render inactive or ineffective. 2. To inhibit, block, or disrupt the action of (an enzyme or other biological agent). 3. genes and result in disease. Signal is advancing the application of genomics beyond identifying and elucidating the functions of genes to designing novel classes of disease-modifying drugs that selectively regulate the activation of disease-causing genes. The Company conducts its target and drug discovery programs both independently and with five pharmaceutical partners. Except for the historical information contained herein, this press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties which could cause Axys' actual results to differ materially from those discussed here, including the risk that Axys' collaborations will not be successful, the risk that Axys will not be successful in entering into new collaborations, the risk of Axys' early stage of development, Axys' reliance on the efforts of its collaborative partners, competition, and general economic conditions that may affect Axys' actual results and developments. Additional factors that could cause or contribute to such differences include, but are not limited to, those discussed in the sections entitled "Business" and "Additional Risk Factors" in the company's SEC Reports, including the company's report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended December 31, 1997. For more information on Axys Pharmaceuticals, Inc., please visit the company's website at http://www.axyspharm.com.
CONTACT: Axys Pharmaceuticals, Inc.
John Walker
Chairman and CEO
David Gennarelli
Manager Investor Relations
(650) 829-1000
or
Burns McClellan, Inc.
Justin Jackson (media)
John Nugent (investors)
(212) 213-0006
or
Signal Pharmaceuticals Inc.
Alan Lewis
(619) 558-7500
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion