CIBC World Markets Bio-Technology Conference Highlights Breakthroughs in Antibodies, Genomics.

Business/Technology Editors & Health/Medical Writers

NEW YORK--(BW HealthWire)--May 2, 2001

Sloan-Kettering Chief, Former U.S. Patents Commissioner Delivering

Keynote Addresses at May 2-3 Conference

Groundbreaking biotechnology products and technologies will be unveiled today and tomorrow, May 2 and 3, at CIBC World Markets' First Annual Bio-Technology Conference.

The two-day conference, which begins this morning at the Millennium Broadway Hotel, is expected to attract more than 600 biotechnology company representatives and institutional investors from throughout the country. Highlights of the conference include original presentations from 68 biotechnology companies, detailing the most recent advances in antibodies, genomics, proteomics, molecular diversity, mass spectrometry, drug discovery hardware, polymer drug delivery and bioinformatics.

Presentations by senior executives of leading biotech companies include: William J. Boyle, director of research, Amgen; Dr. Scott Patterson, senior director, proteomics, Celera Genomics; David L. Kisner, president and chief executive, Caliper Technologies; Paul J. Godowski, senior director, research, molecular biology, Genentech; and Craig A. Rosen, executive vice president, research and development, Human Genome Sciences. In addition, senior executives of MDS Proteomics, ZymoGenetics, and other major firms will deliver up-to-the-minute information on their companies' breakthrough developments.

The conference, organized by CIBC World Markets Bio-Technology research analysts Matthew Geller, Ph.D., Daniella Evans Notkin, CFA, and Shalini Cornelio, Ph.D., is aimed at giving institutional investors the opportunity to hear fresh presentations from major biotech firms that explain key aspects of each company's technology and products.

"This is an opportunity to see what's really going on at these companies, to become knowledgeable about the research they are conducting, and to get a feeling for how each will play a role in revolutionizing drug treatment," Geller said.

Biotech medicines use the human body's own natural defense system to fight disease, including cells, genes, proteins, enzymes and antibodies. Pharmaceutical firms and investors are increasingly looking to biotech firms to produce the next generation of drug discoveries.

The recent publication of the human genetic code has heightened expectations about biotech breakthroughs. More than 350 new drug products and vaccines from the biotech industry are in late stages of testing or awaiting regulatory approval.

With the collapse of the technology sector, biotech has become a high-growth sector for investors. "This is a great alternative if someone wants growth in a period where the tech sector is weak," added Geller. "This is a sector that is not sensitive to the economy at all."

The conference's keynote speaker today will be Dr. David W. Golde, Physician-in-Chief, Memorial Sloan-Kettering Cancer Center. A pioneer in the study of normal and neoplastic hematopoiesis (blood cell formation), Dr. Golde will discuss "Cancer Care in the 21st Century".

The recent publication of a draft of the human genetic code has heightened expectations about using that information to develop new diagnostic and therapeutic agents for cancer.

"One of the most exciting developments in cancer therapy is the potential of new biotech therapies that target specific pathways involved in tumor cell growth and development", Dr. Golde said. "And from a physician's view, the significance of the new therapeutic discoveries is their potential for revolutionizing cancer care."

Dr. Golde, 60, who recently announced that he would step down as Physician-in-Chief next January, has held the position since January 1996. An oncologist, Dr. Golde will remain at Memorial Sloan-Kettering Cancer Center, devoting time to his laboratory and clinical activities, as well as writing a book.

The keynote speaker tomorrow, Thursday, May 3, will be Bruce A. Lehman, U.S. Commissioner for Patents & Trademarks from 1993 to 1998, and now president of the International Intellectual Property Institute in Washington.

Scheduled to address, "Intellectual Property Issues in Healthcare," Lehman is at the forefront of a debate in medicine involving new drugs in the marketplace. The institute recently released a report related to the controversy over the price and distribution of patented AIDS medicines in Africa. Lehman said the report showed that, "Intellectual property is not an impediment to providing these therapies." Financing, he said, is the biggest problem in addressing the AIDS epidemic in Africa.

CIBC World Markets, the investment banking subsidiary of the Canadian Imperial Bank of Commerce, offers a full range of integrated credit and capital markets products, securities, and brokerage and asset management services to corporate, government, institutional and individual clients.

A live webcast of the CIBC World Markets Bio-Technology Conference can be viewed at www.cibcwm.com/eq/conference/biotech.