Rick,
It does sound like it's going to be a happily busy place. SIBI may be in a good position to extend the VGCC research, particularly on migraines. I believe their conopeptide research collaboration is a VGCC-related program, isn't it? You've got to admit there's a certain exotic allure to snail venom. It seems like a promising area to be investigating for neuroactive compounds. I'm also excited about their cross-licensing agreement with Aurora Biosciences. I've been reading a bit about Aurora's fluorescence-based assays, and it sounds like it should strengthen SIBI's already strong screening program. That should enhance SIBI's position for negotiating new partnerships or for doing research in-house. Mostly what I like is the feeling of a very productive synergy around SIBI's various collaborative agreements. I think they have been positioning themselves to have a lot of good things happening.
Add to that how much cash they are sitting on, and it continues to amaze me that you can buy into this much research and technology so cheap.
Baird
Here's a repost of the news release on the cross-licensing agreement with Aurora:
LA JOLLA, CALIFORNIA, January 6, 1997 -- SIBIA Neurosciences, Inc. (NASDAQ NNM:
SIBI) today announced that it has entered into an agreement with Aurora Biosciences Corporation under which the two companies will cross-license rights to certain proprietary assay technologies for
drug screening and drug discovery.
Under the agreement, SIBIA will license to Aurora non-exclusive rights to practice its patented transcription-based assay (TBA) technology, and certain other technologies related to automated drug screening. In return, in addition to other consideration, SIBIA will receive from Aurora non-exclusive rights to several assay technologies, including novel reporter molecules, that will facilitate SIBIA's high throughput screening and drug discovery efforts directed to certain receptor,
ion channel and enzyme targets associated with nervous system disorders. Both parties will receive limited sublicensing rights to each other's patents.
SIBIA's TBA technology makes use of cell-based assays and reporter genes and gene products to measure the functional activity of test compounds on cell-surface proteins in living cells. SIBIA's
issued U.S. Patents No. 5,401,629 and 5,436,128, which relate to the TBA technology, are included in the license to Aurora. Aurora's assay technology utilizes various fluorescent probes of cellular and biochemical activity.
"We are very pleased to announce this cross-licensing agreement with Aurora," stated William T.Comer, Ph.D., SIBIA President and CEO, "because we feel Aurora's technology will enhance SIBIA's technology platform and drug discovery programs. Further, we believe SIBIA's TBA
technology to be quite powerful and broadly applicable, and expect our agreement with Aurora on this technology to be one of many."
Aurora Biosciences Corporation's primary mission is to advance drug discovery by developing miniaturized, automated systems for ultra-high throughput screening, using proprietary, versatile,fluorescence-based assays. The assay technologies will help in functional analysis of novel genes and will enable very rapid screening of multiple genomic and other targets to rapidly identify lead compounds with novel therapeutic potential. Founded in 1995, Aurora has raised over $18.6 million in equity financing. Aurora has strategic technology alliances with the Packard Instrument Company and Carl Creative Systems, and research and licensing agreements with Bristol-Myers Squibb and
Eli Lilly and Company. |
