All,
Bit of news that is firming up the share price. Nice to see that the PCOP collaborative programs continue to progress. My original investment thesis remains intact.
Good trading,
Jim Lang
Monday May 4, 8:04 am Eastern Time
Company Press Release
SOURCE: Pharmacopeia, Inc.
Pharmacopeia Achieves Research Milestone in Collaboration With Bristol-Myers Squibb
PRINCETON, N.J., May 4 /PRNewswire/ -- Pharmacopeia, Inc. (Nasdaq: PCOP - news) today announced that a research milestone has been reached in its
collaboration program with Bristol-Myers Squibb Company (NYSE: BMY - news). The milestone recognizes Pharmacopeia's identification of a lead compound in
the recently formed collaboration involving inflammatory and immunological disease targets. As a result of achieving this milestone, Bristol-Myers Squibb has made
a cash payment to Pharmacopeia. Specific terms of the milestone payment have not been disclosed.
''The achievement of this important pre-clinical milestone demonstrates the power of Pharmacopeia's unique approach to drug discovery,'' said Joseph A. Mollica,
Ph.D., Chairman, President and CEO. ''Using our large, rationally designed libraries of small molecules and high-throughput screening, we were able to identify a
lead compound against a challenging target, and receive confirmation of activity from Bristol-Myers Squibb, after working with them for only four months. This
collaboration, which is based upon an internal Pharmacopeia program, is off to a quick and productive start. We look forward to making even further progress in
the months ahead.''
Pharmacopeia, Inc. is a leader in drug discovery combining small molecule combinatorial chemistry with high-throughput screening. Using ECLiPS(TM), its
proprietary tagging technology, the Company generates large libraries, now consisting of more than 3.8 million diverse, easily identifiable, small molecules. Using
state-of-the-art high-throughput screening, Pharmacopeia tests its compounds in a full complement of assays, including enzyme, receptor binding and cell-based
assays. Pharmacopeia is using its libraries and screening capabilities to develop three potential profit centers: 1) the licensing of libraries to pharmaceutical
companies for evaluation in multiple drug discovery programs; 2) the identification and optimization of lead compounds for specific targets provided by customers;
and 3) the licensing to pharmaceutical companies of drug development candidates developed in the Company's internal drug discovery programs.
Except for the historical information contained herein, this statement may contain projections or other forward-looking statements regarding future events or the
future financial performance of Pharmacopeia. Pharmacopeia wishes to caution you that such statements are just predictions and that actual events or results may
differ materially. Pharmacopeia refers you to the documents that it files from time to time with the Securities and Exchange Commission, specifically the Company's
last filed Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. These documents contain and identify important factors that could cause the actual
results to differ materially from those contained in the projections or forward looking statements.
This release is available on Pharmacopeia's website at pcop.com
SOURCE: Pharmacopeia, Inc. |
