[ background ]
nothing to do with the Axiom system/collaboration, but a good indication of mover/shaker plans for Biacore.....
Monday June 5, 9:14 am Eastern Time
Company Press Release
SOURCE: Millennium Pharmaceuticals, Inc.
Millennium and Biacore Collaborate to Develop New
Drug Discovery Technology
Alliance Aimed at Developing SPR Array Chip Technology to Enhance Productivity of Drug
Discovery ?
CAMBRIDGE, Mass. and UPPSALA, Sweden, June 5 /PRNewswire/ -- Millennium Pharmaceuticals, Inc. (Nasdaq: MLNM
- news) and Biacore International AB (SSE: BCOR; Nasdaq: BCOR) today announced a three year collaborative R&D
agreement to co- develop a new generation of Surface Plasmon Resonance (SPR) array chip technology for use in drug
discovery. The companies believe that this new technology will greatly increase the number of detailed biological evaluations
that can be made in a high-throughput and real-time format.
( Photo: NewsCom: newscom.com
The Millennium-Biacore collaboration will focus on developing specific high-throughput applications that will lead to important
productivity- enhancing advances such as:
the characterization of novel proteins identified through genomic and proteomic research for suitability as potential drug
targets
the ability to identify ligands or substrates for novel proteins using function-blind screening assays
the ability to map pathways by higher-throughput detection and measurement of protein:protein interactions
the ability to perform high throughput characterization of potential lead compounds to select those most likely to have
drug-like properties
These areas represent critical bottlenecks in the current drug discovery process and account for a significant proportion of
pharmaceutical R&D spending.
``Our collaborative partnership with Biacore exemplifies Millennium's strategy to continuously strengthen its comprehensive and
integrated technology platform. By providing early access to cutting-edge technologies, such alliances strengthen our ability to
industrialize the process of drug discovery and development to achieve major productivity improvements,'' said Michael Pavia,
Ph.D., Chief Technology Officer at Millennium. ``This collaboration will take the SPR technology to a new level, enabling much
higher throughput than is currently possible, and contribute significantly to our broad productivity initiative.''
Each company will commit a dedicated research team to the joint R&D program. Biacore will supply and develop all necessary
SPR-technology expertise, instrumentation, array chips, consumables and software. Millennium will contribute specific assay
and drug discovery applications expertise to develop defined assay methodologies. Biacore will retain the right to
commercialize instrument-related developments arising from this collaboration. Millennium will benefit from early access to the
technology, and an anticipated positive effect on productivity in Millennium's drug discovery programs.
``I am delighted that our first collaborative deal on SPR-array technology is with Millennium, a company with whom we
currently enjoy a very productive working relationship,'' said Dr. Ulf Jonsson, President of Biacore. ``Our ability to access
Millennium's undoubted applications expertise across specific, resource-critical areas of the drug discovery process will help us
enormously in optimizing the benefits of our new SPR array chip technology.''
The high throughput, array-based SPR technology pioneered at Biacore has the potential to significantly accelerate the process
of drug discovery. This technology will initially be developed in collaboration with Millennium for the applications outlined, and
with other industry leaders for complementary applications. When fully developed, this technology is expected to deliver a
sample-analysis capacity in the range of 100,000 binding assays per day, providing real-time data on binding kinetics, protein
concentration, binding affinity, and specificity for a variety of biomolecular interactions.
The collaboration announced today demonstrates the commitment of both companies toward building and strengthening their
already existing relationship. Whereas the previous agreement between the companies related to evaluation of existing Biacore
technology, this collaborative effort is focused on the development of an advanced and higher throughput SPR array chip
technology.
Commercial development of this novel technology demonstrates Biacore's firm commitment to becoming a key high-value
technology supplier to the drug discovery industry. The Company launched the BIACORE©3000 at the end of 1998 for
applications upstream of the high throughput screening phase, such as therapeutic target discovery and validation, and is
currently developing a high performance system to address critical needs downstream of HTS, such as lead optimization and
pharmacological profiling. This system will be launched in mid 2001. Full system development for the new array chip
technology will take a few years yet. However, this new platform will significantly augment Biacore's technology portfolio when
launched.
Biacore is a global market leader in SPR technology with its own sales operation in the U.S., across Europe, in Japan, Australia
and New Zealand. The technology is protected by a strong patent portfolio. Target groups consist primarily of medical and life
science research laboratories and pharmaceutical and biotechnology companies all over the world. Biacore focuses on drug
discovery as the prime area for future growth. Biacore currently has five systems on the market with its BIACORE©3000
system offering specific application in drug discovery processes upstream of high throughput screening (HTS). A new
high-performance system, currently in development, will focus on applications downstream of HTS. Future SPR array
screening systems will further strengthen Biacore's product portfolio across a wide range of biological applications. Based in
Uppsala, Sweden, Biacore is listed on the OM Stockholm Exchange and Nasdaq in the U.S. In 1999, the company had sales
of SEK 340.4 million and an operating income of SEK 67.6 million.
Millennium, a leading biopharmaceutical company, applies its comprehensive and integrated science and technology platform
for the discovery and development of breakthrough therapeutic and predictive medicine products, with the goal of delivering
personalized medicine. Through the industrialization of this gene-to-patient platform, Millennium is also striving to accelerate the
process of drug discovery and development. Headquartered in Cambridge, Massachusetts, Millennium currently employs more
than 1,000 people.
This press release contains certain forward looking statements within the meaning of the United States Private Securities
Litigation Reform Act of 1995, which, by their nature, involve risk and uncertainty because they relate to events and depend on
circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to
differ materially from those expressed or implied by these forward-looking statements.
This press release contains ``forward-looking statements.'' These statements include descriptions of Millennium's operational
plans, expectations about future earnings and other results of operations, views of future industry or market conditions, and
other statement that include words like ``may,'' ``expects,'' believes,`` and ''intends,`` and that describe opinions about future
events. Known and unknown risks may cause Millennium's actual results and performances to be materially different from those
expressed or implied by these statements. Some of these risks are: uncertainties relating to unanticipated difficulties and delays
relating to gene identification, drug discovery and clinical development processes; changes in relationships with strategic
partners and dependence upon strategic partners for the performance of critical activities under collaborative agreements; the
impact of competitive products and technological changes; uncertainties relating to patent protection and regulatory approval;
and uncertainties relating to the ability of Millennium and its affiliates to obtain substantial additional funds required for progress
in drug discovery and development. These and other factors are identified and more fully explained under the heading ''Risk
Factors That May Affect Results`` in the annual report on Form 10-K filed by Millennium with the Securities and Exchange
Commission on February 25, 2000.
Note: further information on Biacore can be found on the Company's web site: biacore.com
Address and phone:
Biacore International AB
Rapsgatan 7, SE-754 50 Uppsala, SWEDEN
Phone: +46 (0)18-675700 Fax: +46 (0)18-150111
info@biacore.com
This release is available on Millennium's web site at: mlnm.com
SOURCE: Millennium Pharmaceuticals, Inc. |
