PROCEPT AND BRISTOL-MYERS SQUIBB COMPLETE COLLABORATION AGREEMENT.CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dec. 22, 1994--Procept, Inc. (Nasdaq: PRCT PRCT Practice PRCT Prospective, Randomized, Controlled Trial (medicine) PRCT Partial Rotator Cuff Tear ) announced today that its five-year agreement with Bristol-Myers Squibb Bristol-Myers Squibb (NYSE: BMY), colloquially referred to as BMS, is a pharmaceutical corporation, formed by a 1989 merger between pharmaceutical companies Bristol-Myers Company, founded in 1887 by William McLaren Bristol and John Ripley Myers in Clinton, NY (both were to collaborate on the development of T cell antigen receptors for autoimmune diseases Autoimmune diseases A group of diseases, like rheumatoid arthritis and systemic lupus erythematosus, in which immune cells turn on the body, attacking various tissues and organs. Mentioned in: Complement Deficiencies, Premature Menopause will end, as scheduled, in February 1995. In February 1990, Procept established this research collaboration and licensing agreement with Bristol-Myers Squibb covering a five-year period. Under the terms of the agreement, the companies worked together to define important characteristics of T cell antigen receptors (TCRs) to develop a foundation for drug discovery targeted at autoimmune disorders Autoimmune Disorders Definition Autoimmune disorders are conditions in which a person's immune system attacks the body's own cells, causing tissue destruction. . "Procept's collaboration with Bristol-Myers Squibb has furthered our understanding of TCRs and their role in autoimmune disorders. We are pleased to have established our Company as a leader in TCR TCR T cell receptor. biology, and we will now actively pursue a new corporate partnership," commented Stanley C. Erck, 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. of Procept, Inc. Procept, Inc. is engaged in the research and development of small molecule therapeutics for the prevention and treatment of chronic and life-threatening immune system immune system Cells, cell products, organs, and structures of the body involved in the detection and destruction of foreign invaders, such as bacteria, viruses, and cancer cells. Immunity is based on the system's ability to launch a defense against such invaders. disorders. The Company's research is based upon its understanding of critical cell receptors responsible for modulating immune responses, combined with the drug discovery technologies of rational drug design. Procept is researching therapeutics for the treatment of arthritis, diabetes, organ transplant rejection and AIDS. Founded in 1985 and traded on the Nasdaq National Market System under the symbol PRCT, Procept is located in Cambridge, Massachusetts.
CONTACT: Procept, Inc. Burns McClellan Inc.
Michael Higgins Lilian Stern
Chief Financial Officer (Investor Inquiries)
(617) 491-1100 (212) 505-1919
Susan Neisloss
(Media Inquiries)
(301) 451-7788
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