Tuesday November 28, 8:57 am Eastern Time
Press Release
Motorola and Compugen Sign Agreement to Design DNA Biochips
NORTHBROOK, Ill. & JAMESBURG, N.J.--(BW HealthWire)--Nov. 28, 2000--Motorola Inc. (NYSE:MOT - news) and Compugen Inc., a wholly-owned subsidiary of Compugen Ltd. (Nasdaq:CGEN - news), announced today that they have entered into an agreement for the development and manufacture by Motorola Life Sciences of a number of DNA biochips using Compugen's chip design services.
This marks the first commercial agreement for Compugen's biochip design services based upon its LEADS platform and proprietary DNA chip design tools.
Compugen's LEADS platform and proprietary DNA chip design tools improve scientists' ability to capture both the exact genes of interest, and alternative splice variants of these genes. This feature is designed to capture the biologically active variant of genes, a major advance in the functionality of biochips. Compugen's LEADS technology is an algorithm-driven bioinformatics platform for the analysis and mining of genomic, expressed and protein sequence data.
Through this agreement Motorola will utilize Compugen's biochip design services to develop, manufacture and commercialize selected DNA biochips. Financial terms were not disclosed. The commercialization provision offers Motorola's customers access to further related bioinformatic services through a link to LabOnWeb.com, Compugen's life science research engine for genomic, proteomic and transcriptomic analysis. These bioinformatic services will also include exclusive information obtained from Compugen's proprietary databases.
``We are very pleased to have been chosen to partner with Motorola, one of the world's leading technology companies, as they create high quality bioarrays to advance healthcare in the post-genomics era,'' said Eli Mintz, President of Compugen Inc.
``Motorola is continuing its commitment to quality and customer service in the life sciences arena, which includes continually building our depth in genomic technologies,'' said Nicholas Naclerio, vice president and general manager of Motorola's BioChip Systems business. ``We believe that Compugen's LEADS technology platform and DNA chip design tools offer significant potential to enhance the utility and applications for DNA biochips. We are very pleased to begin this relationship.''
About Motorola Inc.
Motorola, Inc. (NYSE: MOT - news) is a global leader in providing integrated communications solutions and embedded electronic solutions. Sales in 1999 were $33.1 billion. For more information, visit Motorola at motorola.com.
Motorola Biochip Systems was established in 1998 to develop products which enable the delivery of better healthcare through the understanding and practical application of genomics. The business unit is currently developing a family of biochip products and services for research and diagnostic applications. The products under development at Motorola Biochip Systems will enable scientists and healthcare professionals to quickly and accurately analyze the DNA, RNA and proteins in living cells. In the future, the outcomes from this work will lead to the delivery of faster and more individualized healthcare.
Motorola and the Motorola logo are registered trademarks of Motorola Inc.
About Compugen
Compugen (www.cgen.com) is a pioneer in the field of computational genomics and is developing new approaches to computational proteomics. Compugen combines the disciplines of mathematics and computer science with molecular biology to develop products and services that enable life scientists to significantly enhance and accelerate their research efforts in the discovery of drugs, therapeutics, diagnostics and agricultural products. Customers for Compugen products and services include pharmaceutical, biotechnology and other life science organizations such as Amgen, Human Genome Sciences, Inc., Merck, Monsanto, Pfizer and the U.S. Patent and Trademark Office. In addition, Compugen provides these products and services to molecular biologists and other life scientists through its LabOnWeb.com Web site. Compugen is also commercializing the genes and proteins that it discovers through its Novel Genomics division.
This press release contains ``forward-looking statements.'' These statements include words like ``may,'' ``expects,'' ``believes,'' and ``intends,'' and describe opinions about future events. These forward-looking statements are subject to risks and uncertainties that may cause the actual results, performance or achievements of Compugen to be materially difference from any future results, performance or achievements expressed or implied by such forward-looking statements. Some of these risks are: changes in relationships with collaborators; the impact of competitive products and technological changes; risks relating to the development of new products; the ability to implement technological improvements; the ability of Compugen to obtain and retain customers. These and other factors are identified and more fully explained under the heading ``Risk Factors'' in Compugen's Registration Statement on Form F-1 filed with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Contact:
Motorola Inc.
Anne Stuessy
Tel: 847/538-6192
anne.stuessy@motorola.com
or
Compugen Ltd
Noonan/Russo Communications
Stephen Gendel
Tel: 212/696-4455 ext. 212
s.gendel@noonanrusso.com |
