News release:
Cadus Receives Composition of Matter Patent and Notices of Allowance
For Two U.S. Patent Applications on Its Core Yeast Technology
TARRYTOWN, N.Y., April 14 /PRNewswire/ -- Cadus Pharmaceutical Corporation (Nasdaq: KDUS - news) today
announced that the U.S. Patent and Trademark Office (PTO) has issued U.S. patent number 5,739,029 covering the
company's core yeast technology. In addition, the PTO has given Cadus notice that it has allowed two patent applications
relating to Cadus's Self-Selecting Combinatorial Library (SSCL(TM)) technology, but has not yet determined their issue dates.
U.S. patent number 5,739,029 covers the composition of matter of Cadus's hybrid yeast cells. In January 1996, Cadus
received a related patent covering the methodology of functionally inserting mammalian G protein-coupled receptors and
associated signaling proteins into yeast cells. The composition of matter patent issued today strengthens Cadus's proprietary
position with respect to the development of drug discovery assays that it uses both for its in-house and collaborative research
programs.
The two allowed patent applications, with effective filing dates in March 1993, cover the use of Cadus's SSCL(TM)
technology to identify modulators that act on signal transduction kinases and farnesyl transferases respectively. In addition, the
allowed patent applications also disclose the incorporation of mutations in certain yeast genes (including STE2, STE3, SST2,
FUS1 and FAR1) to enhance signaling through the yeast pheromone response pathway.
David R. Webb, Ph.D., Cadus's Vice President of Research and Chief Scientific Officer stated, ''We are very pleased to have
been granted the composition of matter patent and received notice of the two allowances. Having already been issued a U.S.
patent covering the methodology relating to our hybrid yeast technology, Cadus now has a strengthened position regarding its
core assay development technology. These two allowed patent applications,'' Dr. Webb continued, ''are the first of what we
believe will be a series of allowances from our pending patent applications that cover the identification of modulators to
receptors and associated signaling molecules. Significantly, the allowed patent applications also demonstrate Cadus's strength in
the efficient, functional coupling of mammalian components to the yeast signal transduction pathway.''
Cadus is a biotechnology company engaged in the discovery of novel small molecule therapeutics. The company is a leader in
the development of proprietary technologies that exploit the similarities between the yeast and human genomes to create drug
discovery tools and to elucidate gene function and cell signaling pathways. The company's drug discovery efforts and its
collaborations with pharmaceutical and biotechnology partners span many therapeutic areas, including allergy/asthma, other
inflammatory disorders, and cardiovascular, gastrointestinal, endocrine, and metabolic diseases, as well as immunology, central
nervous system disorders, and cancer.
The statement that certain pending patent applications are expected to be allowed is a forward-looking statement that may not
prove to be accurate. This press release may contain other forward-looking statements that involve a number of risks and
uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking
statements are set forth in the company's prospectus dated July 17, 1996 or detailed from time to time in filings that the
company makes with the Securities and Exchange Commission. These include risks and uncertainties relating to the company's
relationship with its collaborative partners, the acquisition and licensing of technology, rapid technological change, an intensely
competitive market, intellectual property rights, delays in product development and general economic conditions.
How good is the news for KDUS? Does it mean no trouble anymore for the compary to use their hybrid yeast technology? |
