Scriptgen Pharmaceuticals Subscribes to Genome Therapeutics' Proprietary
Microbial Genomic Database
PR Newswire - June 29, 1998 07:13
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Scriptgen Becomes the Fourth Subscriber to the PathoGenome(TM) Database
WALTHAM, Mass., June 29 /PRNewswire/ -- Genome Therapeutics Corp. (Nasdaq: GENE) and Scriptgen Pharmaceuticals, Inc.
today announced that they have entered into a licensing agreement that will provide Scriptgen with non- exclusive access to Genome
Therapeutics' proprietary microbial sequence database, PathoGenome(TM). The database will allow researchers at Scriptgen to
identify gene targets, which will aid in the discovery of novel therapeutics for treating infectious diseases and drug-resistant
organisms.
Under the terms of the agreement, Scriptgen will pay annual subscription fees and milestone payments, as well as royalties on
products developed as a result of the use of the PathoGenome(TM) database. The multi-year agreement marks the fourth
subscription to the PathoGenome(TM) database, which also has Bayer, Bristol-Myers Squibb and Schering-Plough as subscribers.
Genome Therapeutics retains certain rights to use the genes or gene products as therapeutics, diagnostics and vaccines. Additional
terms were not disclosed.
"The PathoGenome(TM) database is one of the most comprehensive sources of high-quality sequence information on medically
relevant microbial organisms and fungi," said Mark Weedon, President and CEO of Scriptgen. "By combining this database with
our proprietary target validation and drug screening assays GATE, ATLAS and SCAN, we will be able to accelerate our own
anti-infective drug discovery programs, as well as add value to our ongoing and new collaborative drug discovery programs."
"We are excited to add Scriptgen, a company with strong platform technologies for accelerating drug discovery of novel
anti-infectives, as a subscriber to the PathoGenome(TM) database," said Robert J. Hennessey, Chairman, President and CEO of
Genome Therapeutics. "This subscription reinforces the utility of the PathoGenome(TM) database for expediting the drug discovery
process and validates the database's importance for pharmaceutical and biotechnology companies alike."
The PathoGenome(TM) database is the most comprehensive commercial source of microbial genomic information available. It
provides subscribers with an unprecedented volume of highly organized and functionally annotated sequence information related to
some of the most medically important microbial organisms and fungi. The non-exclusive database is designed for use at the client
site utilizing proprietary bioinformatics software developed at Genome Therapeutics. It enables researchers to search for new genes
among multiple pathogens and cross-reference genomic information to develop new anti- infective products.
Genome Therapeutics (www.genomecorp.com) is a leader in the field of genomics - the identification and functional
characterization of genes. The Company's commercial gene discovery strategy is to identify and characterize human genes
associated with major diseases and elucidate bacterial genes responsible for many serious infectious diseases. Together with its
strategic partners, Genome Therapeutics is using genomic information to develop new generation of pharmaceuticals.
Scriptgen Pharmaceuticals, Inc. is a leader in the discovery of drugs to control the expression of genes. Current programs in the
anti-infectives area have identified multiple new drug targets and lead compounds effective against drug-resistant bacterial, fungal,
and viral pathogens. Scriptgen's products include GATE, a family of high-throughput target identification and validation
technologies and ATLAS and SCAN, high-throughput screening technologies for proteins and RNA targets, respectively.
Safe Harbor Statement for Genome Therapeutics: Statements in this press release that are not strictly historical are "forward
looking" statements as defined in the Private Securities Litigation Reform Act of 1995. The actual results may differ from those
projected in the forward looking statement due to risks and uncertainties that exist in Genome Therapeutics' operations and business
environment, described more fully in the Company's Annual Report on Form 10-K filed with the Securities and Exchange
Commission.
SOURCE Genome Therapeutics Corp.
/CONTACT: Christopher Taylor, Director of Investor Relations of Genome
Therapeutics Corp., 781-398-2466 or Douglas E. MacDougall, Vice President of
Feinstein Kean Partners, 617-577-8110 or Mark Weedon, President and CEO of
Scriptgen Pharmaceuticals, Inc., 781-768-3400/
/Web site: genomecorp.com |
