More genes sequenced. Press release follows. At new 52 week high today and still could quadruple from here this year as Human Genome Project nears completion. Once again, I repeat: Biotech is the Net in 2000 and 2001 as new discoveries and technlogies lead genomics companies to attract "Yahoo" -like attention.
Hyseq Adds Over 5,000 Completely Sequenced Novel Genes to its Portfolio
PR Newswire, Thursday, January 06, 2000 at 08:20
SUNNYVALE, Calif., Jan. 6 /PRNewswire/ -- Hyseq, Inc. (NASDAQ:HYSQ) announced today
that it has added more than 5,000 completely sequenced proprietary genes to its HyProfile(TM)
Portfolio, making it one of the largest of its kind in the world. Hyseq intends to pursue
commercialization of select gene product candidates internally and through licensing.
Of these 5,000 completely sequenced genes, Hyseq scientists have found that approximately
1,200 contain secretory signal peptide segments, and 3,800 have significant homology to known
genes which provides the basis for structural and functional analysis. The presence of secretory signal
peptide segments means these genes are capable of producing either proteins which are secreted
into the blood stream making them drug candidates, or membrane-bound proteins which are potential
drug targets.
"Given the more than 12 million human DNA samples we have processed for our internal use,
and the depth to which we are able to mine tissues because of our proprietary technology, we believe
that we have one of the best pipelines for biopharmaceutical product candidates in the industry," said
Lewis S. Gruber, Hyseq's President and Chief Executive Officer. "Now that we are completing our
determination of human gene sequences, our strategy is to develop product candidates for treating
inflammatory and cardiovascular diseases while making others available for licensing. We are
currently progressing with pre-clinical studies on our IL-1Hy1 anti-inflammatory and CD39L4
anti-clotting drug candidates," said Mr. Gruber.
Hyseq also has identified approximately 30,000 novel genes, all of which either contain signal
peptide segments, indicating that they are capable of producing secretory proteins, or have significant
homology to the coding regions of known genes. Hyseq intends to continue to sequence and
assemble these genes to obtain full-length sequences. After Hyseq selects product candidates for its
biopharmaceutical pipeline from these approximately 35,000 total gene sequences, Hyseq intends to
make available gene sequences and tissue expression and homology data from this new collection of
proprietary genes through the GeneSolutions (TM) Portfolio of its wholly owned subsidiary,
GeneSolutions Inc. Prior to launching GeneSolutions.com in late 1999, Hyseq did not grant access to
its proprietary database of more than 12 million analyzed DNA samples.
Hyseq is a biopharmaceutical company with a growing pipeline of therapeutic and diagnostic
product candidates with primary focus on immunology, cardiovascular, and hemopoetic fields. Hyseq
uses its proprietary technology with its partners for therapeutic and diagnostic target discovery and
pharmacogenomics and polymorphism analysis, and in its DNA analysis tools such as the
HyChip(TM) system. Information about Hyseq is available at hyseq.com or by phoning
408-524-8100. Hyseq's wholly owned subsidiary, GeneSolutions Inc., offers genomic resources to
pharmaceutical and biomedical researchers on the Internet at genesolutions.com.
Statements included in this press release which are not historical in nature, are intended to be,
and are hereby identified as "forward-looking statements" for purposes of the safe harbor provided by
the Private Securities Litigation Act of 1995. Forward-looking statements may be identified by words
including "anticipate," "believe," "intends," "estimates," "expect" and similar expressions. The
Company cautions readers that forward-looking statements, including without limitation, those relating
to the Company's future business prospects are subject to certain risks and uncertainties that could
cause actual results to differ materially from those indicated in the forward-looking statements. For a
discussion of factors that may cause results to differ, see the Company's reports filed with the SEC,
including its Annual Report on Form 10-K for the year ended December 31, 1998. Hyseq disclaims
any intent or obligation to update these forward-looking statements.
SOURCE Hyseq, Inc.
-0- 01/06/2000
/CONTACT: Mark E. Gitter, Chief Financial Officer of Hyseq, Inc., 408-524-8100; or Investors -
Hershel Berry of The Trout Group, 415-567-3300; Media - Brad Miles of BMC Communications,
212-477-9007, both for Hyseq, Inc./
/Web site: hyseq.com
genesolutions.com |
