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Biotech / Medical : Biotechnology Value Fund, L.P.

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To: scaram(o)uche who started this subject	8/23/2000 6:24:40 PM
From: nigel bates	Read Replies (1) of 4974

Aug. 23 /PRNewswire/ -- Elitra Pharmaceuticals Inc., a leader in antimicrobial functional genomics, announced today the completion of a $22.0 million preferred stock financing. This was Elitra's third round of financing with financial investors, and Elitra intends to use the proceeds to continue its research efforts in the field of antimicrobial functional genomics. Elitra is focused on the identification, development and commercialization of novel antimicrobial compounds that target essential gene products of pathogenic organisms. Elitra intends to utilize its functional genomics data, combined with the Pathoseq database and source code, which it recently acquired from Incyte Genomics, Inc, to develop antimicrobial drugs both internally and in collaboration with corporate partners. Elitra has entered into strategic partnerships with LG Chemical Ltd. and with Incyte. Elitra employs ultra-rapid proprietary techniques for the identification of novel microbial essential gene drug targets and high throughput chemical screening against those targets. To date, Elitra has identified more than 800 essential genes in multiple pathogens.

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