CytoGenix Announces Introduction of Drug Target Validation Services for the Pharmaceutical Industry.Business Editors/Health & Medical Writers HOUSTON--(BUSINESS WIRE)--May 17, 2002 CytoGenix Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CYGX) announces the introduction of a new Drug Target Validation See validate. validation - The stage in the software life-cycle at the end of the development process where software is evaluated to ensure that it complies with the requirements. service geared to reducing drug discovery time and money. Using its proprietary single stranded strand 1 n. The land bordering a body of water; a beach. v. strand·ed, strand·ing, strands v.tr. 1. To drive or run ashore or aground. 2. DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. expression technology, CytoGenix offers results in weeks rather than months. The Company operates under GLP See gateway location protocol. quality standards and guarantees customer satisfaction. "We know that target validation is critical to the continued success of pharmaceutical companies. The market potential for target validations is significant. Our market research indicates that the industry is spending at least $500 million for these services currently," states Malcolm Skolnick, CytoGenix 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. . "We have structured our offering very simply as a contract service. There are no licensing fees, no milestone payments and no complex equity deals. We will down regulate genes of interest for a fee. And as with any other business, we expect to attain economies of scale in our labs as customers provide us with multiple projects." Yin Chen, Ph.D., CytoGenix vice president of research and development, adds "Our expression system is very efficient and we have achieved ranges between 50-95% down-regulation of proteins. We are working towards improving this by optimizing our conditions and expanding applications to different cell lines." CytoGenix Inc. is a Houston-based biopharmaceutical company that develops and markets innovative products and services based on its proprietary ssDNA expression technology. CytoGenix currently has one issued US patent and 36 international or US pending patent applications claiming methods and materials in connection with this platform technology. SAFE HARBOR Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. : Except for statements of historical fact, the statements in this press release are forward-looking. Such statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include, but are not limited to, general economic conditions, risks associated with the acceptance of new products, competition, and other factors more fully detailed in the company's filings with the Securities and Exchange Commission. Additional information about CytoGenix and its technology can be found on the Web site at www.cytogenix.com. |
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