Axys Board Announces Changes in Directors.Business Editors and Health/Medical Writers 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)--Dec. 15, 2000 Axys Pharmaceuticals, Inc. (Nasdaq: AXPH) today announced that its Board of Directors had elected Paul J. Hastings, Axys' newly appointed President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , to serve as a director for the company. The Board also announced that it had accepted the resignation of Donald B. Kennedy, Ph.D. Dr. Kennedy, the Bing Professor of Environment Science, Professor of Education, and President Emeritus of Stanford University Stanford University, at Stanford, Calif.; coeducational; chartered 1885, opened 1891 as Leland Stanford Junior Univ. (still the legal name). The original campus was designed by Frederick Law Olmsted. David Starr Jordan was its first president. , was recently named Editor-in-Chief of a premier peer review journal necessitated his resignation from this and other positions representing a potential for a conflict of interest. Hastings will fill the opening on the Board of Directors created by Dr. Kennedy's resignation, leaving the Board at seven members. Axys Pharmaceuticals, Inc. is an integrated small molecule drug discovery and development company. Axys has a broad pipeline of products for chronic therapeutic applications that are partnered with world-class pharmaceutical companies and a proprietary product portfolio in oncology. Axys is also building shareholder value through affiliated businesses that leverage the Axys technologies in order to provide capital for Axys' drug discovery and development programs. In addition to the minority interest in Discovery Partners International, Inc. (Nasdaq: DPII DPII Discovery Partners International, Inc. ) resulting from the merger of Axys Advanced Technologies into DPII earlier this year, Axys' technology leveraging businesses are: PPGx, a majority-owned pharmacogenomics Pharmacogenomics is the branch of pharmacology which deals with the influence of genetic variation on drug response in patients by correlating gene expression or single-nucleotide polymorphisms with a drug's efficacy or toxicity. company, and Akkadix Corporation, an agricultural biotechnology company. For more information about Axys Pharmaceuticals, Inc., please visit the company's website at http://www.axyspharm.com 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 risks inherent in early stage development and the reliance on the efforts of collaborative partners, the risk that Axys collaborations will not be successful, the risk that clinical trials will not proceed as anticipated or may not be successful, the risk that Axys will not be successful in entering into new collaborations, market risk associated with Axys' substantial ownership interest in Discovery Partners International, Inc., competition and marketing risk, 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 "What Factors Could Cause Our Results to Differ Significantly from Those You Might Expect?" and "What Other Matters Should Stockholders Consider with Respect to Axys?" in the Axys' SEC Reports, including Axys' 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, 1999. Contact: Axys Investor Relations Investor relations The process by which the corporation communicates with its investors. : 650/829-1000 or email address See Internet address. ir@axyspharm.com. |
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