CYTO subsidiary news: "AxCell Biosciences Strengthens Its Strategic Relationship With Compaq
PRINCETON, N.J., Dec 19, 2000 /PRNewswire via COMTEX/ -- AxCell Biosciences Corporation, a subsidiary of
Cytogen Corporation (Nasdaq: CYTO chart, msgs) today announced that it has strengthened its strategic relationship with Compaq Computer Corporation (NYSE: CPQ chart, msgs). Last December, AxCell began using Compaq's high performance Tru64 UNIX Alpha systems to deliver the speed, scalability and performance required to chart the
signaling pathways within the human proteome. Due to increasing laboratory data output, AxCell's computing
requirements have more than doubled. Compaq's AlphaServer cluster technology has made the required expansion
seamless. AxCell is developing the InterFunctional Proteomics Database(TM) as a means of discovering new drug
targets, and determining the functional role of single nucleotide polymorphisms, or SNPs in pharmacogenomics.
"After working with Compaq for nearly a year, we are pleased to expand our development relationship with them," said
Brian R. Bullard, Vice-President and Chief Information Officer of AxCell. "With increased data production from our
laboratories, we will need additional enhanced computing power to support the data analysis capabilities that are so
critical to our research work. Compaq's Tru64 UNIX scalable architecture will allow AxCell to build on its existing
computer systems adding needed computational power."
"Compaq has intensified its commitment to the life sciences industry in the past year, and we are pleased to expand our
relationship with AxCell," said Patrick Chassaigne, Director, Life Sciences at Compaq. "Compaq provides
high-performance computing solutions and services to assist AxCell in charting the proteome, and our relationship with
AxCell demonstrates Compaq's continued commitment to the application of computing solutions to life sciences with
emphasis on proteomics."
AxCell Biosciences, a subsidiary of Cytogen, is using its high-throughput technology to chart protein signaling pathways in the human proteome as a means of discovering new drug targets. AxCell is developing a proprietary protein-pathway database, the Inter-Functional Proteomic Database(TM), as a discovery and development tool for subscribers in the pharmaceutical, biotechnology and agricultural industries. AxCell's bioinformatics platform is designed to identify drug targets for optimization and development through the application of novel, innovative and rapid techniques for deriving intracellular protein-pathway data. For additional information on AxCell Biosciences, visit www.axcellbio.com.
Cytogen Corporation is a biopharmaceutical company in Princeton, NJ, whose mission is to set new standards in cancer care. Its two principal lines of business, proteomics and oncology, are built upon its expertise in antibodies and
molecular recognition and are directed principally to development of novel products for the diagnosis, imaging, staging and treatment of prostate cancer and a proteomics-driven drug discovery platform. The Company's cancer management franchise currently comprises four FDA-approved products: ProstaScint(R), used to image the extent and spread of prostate cancer; BrachySeed(TM) implants for prostate cancer therapy; OncoScint(R) CR/OV, a diagnostic imaging agent for colorectal and ovarian cancer; and Quadramet(R), for the relief of cancer-related bone pain. The Company has established a pipeline of product candidates based on its proprietary antibody and prostate specific membrane antigen, or PSMA, technologies, and holds worldwide exclusive license to PSMA. Cytogen and its joint venture partner,Progenics Pharmaceuticals, are developing in vivo immunotherapies for prostate cancer based on PSMA. The Company also has U.S. marketing rights to the late-stage product candidate Combidex(R), a magnetic resonance imaging agent being developed by Advanced Magnetics for the detection of lymph node metastases. For additional information visit www.cytogen.com.
This press release contains certain "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Information in this press release, which is not historical, is forward looking and involves a number of risks and uncertainties. Investors are cautioned not to put any undue reliance on any forward looking statement. The Company's actual results may differ materially from the Company's historical results of operations and those discussed in the forward-looking statements for various reasons, including, but not limited to the Company's ability to carry out its business plan, successful development and commercial acceptance of its products, ability to fund development necessary for existing products and for the pursuit of new product opportunities, the risk of whether products result from development activities, protection of its intellectual property portfolio, ability to integrate in-licensed products, ability to establish and successfully complete clinical trials where required for product approval, the risk associated with obtaining the necessary regulatory approvals, dependence on its partners for development of certain projects, the ability to obtain
foreign regulatory approvals for products and to establish marketing arrangements in countries where approval is obtained, and other factors discussed in the Company's 1999 Form 10-K and from time-to-time the Company's other
filings with the Securities and Exchange Commission." |
