Monday May 22, 6:01 am Eastern Time
Company Press Release
Axiom Biotechnologies Signs Deal With Biacore to
Commercialize Its Novel Compound Profiling
Instrumentation Platform
Axiom Gains Access to an Internationally Known and Respected
Marketer of Lead Discovery and Target Validation Tools
SAN DIEGO--(BW HealthWire)--May 22, 2000-- Axiom today announces that it has signed an exclusive distribution
agreement with Biacore to market Axiom's new, high throughput pharmacology system, HT-PS 100, on a worldwide basis.
The new HT-PS 100 system, which is expected to be launched in late 2001, will complement Biacore's own molecular based
high-performance analytical systems that are currently under development. In combination, these two systems will allow
Biacore to offer pharmaceutical companies a fully integrated solution of both cellular and molecular based assays that are
designed to accelerate dramatically the identification of quality lead compounds.
As part of this licensing deal, Biacore has made an equity investment of $4 million in Axiom. Mr. Lars-Goran Andren, the
Executive Chairman of Biacore, will become a Non Executive Director of Axiom. Biacore has also been granted an option to
license Axiom's multi-channel, high throughput system, HT-PS Ultra, at a later date.
Axiom's HT-PS 100 is a fully automated cell based flow-through system. It is able to rapidly evaluate and characterize the
activity, potency, target specificity and cell-type selectivity of compounds by detecting subtle changes in intracellular ion
concentrations. Such changes are well-characterized indicators of receptor-mediated physiological activity.
The HT-PS 100 system is based on a novel technology that performs these functional assays in a fully integrated format that
dramatically accelerates data collection and compound characterization, while at the same time significantly cutting costs.
Pandi Veerapandian, Chairman and President of Axiom, said ``We are extremely pleased to have a marketing partner with the
experience and expertise of Biacore. Biacore is internationally known and respected, and has targeted drug discovery as a
major growth opportunity. Biacore's decision to take an equity position in our company, and have Lars-Goran join our Board,
supports our view of the exciting potential for our cell based assay systems. A combination of Axiom's pharmacology tools and
Biacore's existing instrumentation coupled with the new products they have planned will provide a suite of systems to cater to
the needs of the drug discovery industry.''
Commenting on the announcement, Dr. Ulf Jonsson, President of Biacore said, ``We are delighted to have concluded this deal
with Axiom. The ability to market the HT-PS 100 cell based assay system will provide us with a highly complementary product
offering to our current molecular assay systems that are based on our world leading SPR technology. Taken together these two
systems will put Biacore in a very strong position to achieve its goal of becoming a major supplier of technology to drug
discovery.''
This deal with Biacore allows Axiom to develop more bioassays, add more information to our database and provide lead
optimization services to pharmaceutical and biotechnology companies. Axiom expects this system will be launched in 2001.
Axiom Biotechnologies is a privately-held biotechnology company focused on improving the efficiency of drug discovery by
accelerating the process of lead profiling by applying an array of proprietary ``hits-to-leads'' technologies and assays. The
company's patented flagship technology, the High Throughput Pharmacology System (HT-PS), combines proprietary natural
cell-based assays, high throughput automated instrumentation and novel pharmacoinformatics and biomining tools to assess and
prioritize potential lead compounds based on their functional pharmacological properties. Through collaborations with
pharmaceutical and biotechnology companies, Axiom is committed to becoming the pharmaceutical industry's partner of choice
in high throughput pharmacology.
Biacore is a global market leader in affinity-based biosensor technology with its own sales operations in the U.S., across
Europe, in Japan, Australia and New Zealand. A strong patent portfolio protects the technology. Target groups consist
primarily of medical and life science research laboratories and pharmaceutical and biotechnology companies worldwide.
Biacore focuses on drug discovery as the prime area for future growth. The company currently has five systems on the market
with its BIACORE3000 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, the company 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.
Contact:
Axiom Biotechnologies
Stephen C. Eisold, Chief Executive Officer, 858/455-4500
www.axiombio.com
or
Biacore
Lars-Goran Andren, Chairman and CEO
or
Ulf Jonsson, President
+46 18 67 57 00
or
HCC.DE Facto Group
David Dible or Michaela Mahon
(scientific/trade press enquiries)
+44 (0) 20 7496 3300 |
