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IXSYS AND BRISTOL-MYERS SQUIBB ANNOUNCE RESEARCH AGREEMENT ON TUMOR-ASSOCIATED ANTIBODIES

 IXSYS AND BRISTOL-MYERS SQUIBB ANNOUNCE
 RESEARCH AGREEMENT ON TUMOR-ASSOCIATED ANTIBODIES
 SAN DIEGO, Oct. 13 /PRNewswire/ -- Ixsys Inc. today announced that it has entered into a research agreement with Bristol-Myers Squibb focusing on the development of monoclonal antibodies directed against certain tumor-associated antigens. Bristol-Myers Squibb will fund the collaboration as an extension of an earlier feasibility study undertaken by the two companies. Under this agreement, Ixsys will use its proprietary protein engineering technology for identification and optimization of monoclonal antibodies for use in combating certain cancers, according to James R. Tretter, president and chief executive officer of Ixsys.
 "This agreement with Bristol-Myers Squibb, a recognized leader in the pharmaceutical industry, validates the potential for the Ixsys technology," Tretter said. "We are excited about the opportunity to continue work with Bristol-Myers Squibb on this research and look forward to discussions that will expand our relationship."
 Ixsys, a privately held biotechnology company, has developed a unique system for the generation of human monoclonal antibodies in the laboratory. Radically different from standard hybridoma technology, Ixsys' system integrates a series of novel techniques that enable rapid generation and optimization of human monoclonal antibodies which are superior in therapeutic value to those of other systems, including the human immune system. The company has already successfully created monoclonals against specific tumor, infectious disease and other antigens. Ixsys is also applying related technology to the identification of biologically active peptides for the treatment of human disease.
 Ixsys believes that its proprietary technologies place the company in a leadership position in the field of protein engineering. Bristol-Meyers Squibb, a leader in the field of oncology, sees significant potential in the Ixsys system, according to William A. Scott, senior vice president of Exploratory and Drug Discovery Research at Bristol-Meyers Squibb.
 "Bristol-Meyers Squibb's initial interest in the technology was to discover new antibodies as well as to improve existing antibodies that may have therapeutic value in treating cancer," Scott said. "We are now exploring other possible applications for these powerful technologies."
 Bristol-Meyers Squibb is a diversified health care company whose principal businesses are pharmaceuticals, consumer products, nutritionals and medical devices. It is among the world's leading makers of cardiovascular, anticancer, anti-infective, central nervous system and dermatological drug therapies and diagnostic agents and over-the-counter medicines.
 Ixsys Inc. is a leader in the discovery, development and production of high affinity and specific human monoclonal antibodies and peptides for use as pharmaceutical products. The company's proprietary protein engineering technologies enable it to rapidly generate and optimize human monoclonal antibodies and peptides.
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 /CONTACT: Mike Hanifin, VP-business development of Ixsys, 619-455-2350; or Linda Seaton of Keatinge/Seaton Communications, 619-625-2100, for Ixsys/ CO: Ixsys Inc.; Bristol-Myers Squibb ST: California IN: MTC SU: JVN


EH-LS -- SD002 -- 9157 10/13/92 09:16 EDT
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Date:Oct 13, 1992
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