Abbott Laboratories licenses Arris Technology.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. , Calif.--(BW HealthWire)--June 11, 1997-- Arris Pharmaceutical (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ARRS ARRS American Roentgen Ray Society. ) today announced a new collaboration with Abbott Laboratories (NYSE NYSE See: New York Stock Exchange :ABT ABT About ABT Abteilung (German: Department) ABT Abbott Laboratories (stock symbol) ABT American Ballet Theatre ABT Associação Brasileira de Telemarketing ABT Abort ABT Availability Based Tariff ) of Abbott Park, Ill., under the terms of which Arris will transfer to Abbott specialized drug discovery technologies for application by Abbott in an undisclosed proprietary research program. Financial terms of the agreement were not released, but the contract provides for a license fee and royalties due upon commercialization of products resulting from the technology. According to Dan Petree, Arris executive vice president for corporate development, "The transfer of certain discovery technologies to Abbott reinforces the value of Arris' capabilities. These discovery technologies were developed by Arris in order to be successful in other partnered research programs, but according to the terms of those earlier agreements, Arris retained the rights to all novel core technologies. Under this contract, Abbott will have rights to apply those particular discovery technologies to a specified, but undisclosed target, and Arris has retained certain rights to transfer the technologies to other pharmaceutical companies in the future." Arris Pharmaceutical uses an integrated drug discovery approach combining structure-based drug design, combinatorial chemistry and its proprietary Delta Technology to discover and develop small molecule therapeutics for existing markets where available therapies have significant limitations. Arris' research focus is protease-based discovery programs targeting the inhibition of enzymes implicated im·pli·cate tr.v. im·pli·cat·ed, im·pli·cat·ing, im·pli·cates 1. To involve or connect intimately or incriminatingly: evidence that implicates others in the plot. 2. in inflammatory and certain other diseases such as asthma, blood clotting disorders, arthritis, osteoporosis, cancer and various infectious diseases. CONTACT: Arris Pharmaceutical Dan Petree/Shari Annes, 415/829-1000 http://www.arris.com |
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