To all:
Wednesday January 14, 6:31 am Eastern Time
Company Press Release
AXYS Pharmaceuticals Launches Advanced Technologies Division
Names Division Management
SOUTH SAN FRANCISCO, Calif.--(BW HealthWire)--Jan. 14, 1998--AXYS Pharmaceuticals Inc. (NASDAQ:AXPH - news), formerly Arris Pharmaceutical Corp. and Sequana Therapeutics Inc., announced today the launch of an Advanced Technologies Division to focus the company's efforts in commercializing its capabilities in combinatorial chemistry and pharmacogenomics as well as its patented Delta technology.
AXYS also indicated that the new division management would be led by Robert A. Reed, Ph.D., AXYS vice president and divisional general manager, and Douglas A. Livingston, Ph.D., divisional vice president, combinatorial chemistry.
''During the course of building AXYS' complete drug discovery capability from gene to drug, we have developed valuable technology in a number of areas,'' stated Daniel Petree, AXYS president and chief operating officer.
''We believe those technologies, in addition to driving our drug discovery program, represent significant revenue and business-building opportunities for the company. We have already begun the commercialization of our combinatorial chemistry capability through a major collaboration with Pharmacia and UpJohn.
''We intend to build on that success by licensing our combinatorial chemistry technology to pharmaceutical and biotech companies and by collaborating with companies wishing to screen our libraries.
''In addition, the Advanced Technologies Division will be charged with aggressively building and commercializing the company's pharmacogenomics and diagnostics business,'' Petree continued.
''We expect to collaborate with pharmaceutical companies and clinical research organizations (CROs) on developing genetic markers for success in clinical trials and for the diagnostic identification of optimal patient populations for approved drugs.''
... Division Management
Robert A. Reed, Ph.D., formerly senior director of business development at AXYS, has been promoted to AXYS vice president and general manager of the Advanced Technologies Division. Reed will report directly to Daniel Petree, AXYS' president and COO. Additionally, Douglas A. Livingston, Ph.D., formerly AXYS director of combinatorial chemistry, has been promoted to vice president of combinatorial chemistry of the new division.
Prior to joining AXYS Pharmaceuticals in early 1997, Reed was the strategic R&D manager at Abbott Pharmaceutical's Products Division, responsible for identifying and evaluating biotechnology and pharmaceutical companies for licensing and collaborative opportunities.
From 1990 to 1995, Reed was at Pharmacia, Biosensor Division, serving most recently as the national sales manager. In 1989, he became the youngest scientist to obtain a faculty position in the Biophysics department of Boston University's School of Medicine. He received his Masters and Ph.D. in biochemistry from Boston University and a Bachelors degree from the University of Miami.
Livingston joined AXYS in 1996. Previously, he was associate director of chemical operations at La Jolla Pharmaceutical where he co-directed the drug discovery program. From 1990 to 1992, Livingston was a third level research scientist at Burroughs Wellcome. He started his career in the process research group at Upjohn in 1983.
He completed his undergraduate education at the University of Washington and earned a M.A. and Ph.D. in organic chemistry from Columbia University.
AXYS Pharmaceuticals is a leader in the integration of drug discovery technologies from gene identification through clinical development and is focused on the discovery of small molecule therapeutics. The company has research collaborations with world-class pharmaceutical companies, covering a broad range of therapeutic areas including respiratory, cardiovascular, metabolic, and infectious disease as well as oncology and central nervous system disorders.
Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties that could cause the company's actual results to differ materially from those discussed here, including the risk that additional patents may not issue to the company or that issued patents may not provide adequate protection, the company's early stage of development, the risk of the company's reliance on the efforts of its collaborative partners, competition, and general economic conditions that may affect the company's actual results and developments. Additional factors that could cause or contribute to such differences include, but are not limited to, those discussed in the sections entitled ''Business Risks'' in the company's SEC Reports, including the report on Form 10-K for the fiscal year ended Dec. 31, 1996 and the company's Report on Form 10-Q for the quarter ended Sept. 30, 1997, as well as those discussed in the section entitled ''Risk Factors'' in the company's Registration Statement on Form S-4 filed with the SEC on Nov. 26, 1997.
--------------------------------------------------------------------------------
Contact:
AXYS Pharmaceuticals
Daniel Petree, 619/452-6550
Shari Annes, 650/829-1000
axyspharm.com
-------------------------------------------------------------------------------- |
