Axys Pharmaceuticals Attains Two Milestones in Its Genomics Collaboration With Parke-Davis
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Oct. 22, 1998--Axys
Pharmaceuticals, Inc. (NASDAQ:AXPH) announced today that it has
attained two separate milestones in its gene identification and gene
function research collaboration in the area of schizophrenia and
bipolar disorder with the Parke-Davis Pharmaceutical Research division
of Warner-Lambert Company (NYSE:WLA). Axys attained a research
milestone by making significant progress in its psychiatric genomics
research. Axys also attained a technology transfer milestone by
successfully completing development of and transferring to
Parke-Davis, Axys' proprietary bioinformatics platform. The amount of
the milestone payments from Parke-Davis were undisclosed.
"We believe the attainment of these milestones further validates
the approach we are taking to identify the genetic causes of this
disease," said Tim Harris, Ph.D., senior vice president, research, at
Axys Pharmaceuticals. "The research progress demonstrates the power of
the large number of patient samples that have been collected and will
allow us to continue to move forward to gene identification. The
technology we have developed and transferred to Parke-Davis includes
robust software tools which integrate genetic, genomic and biological
data. It will assist researchers in integrating and maintaining key
public and proprietary information on genes of interest."
Wendell Wierenga, Parke-Davis' senior vice president, said, "In
less than one year, Axys has made significant progress in our
psychiatric genomics collaboration. The milestone represents a
significant advance toward understanding the causes of these
psychiatric disorders and we believe the bioinformatics software will
serve as a key component in our overall drug discovery efforts."
In November 1997, Axys entered a broad-based genomics alliance
with Parke-Davis to develop novel therapeutic products for psychiatric
disorders.
Axys Pharmaceuticals is a leader in the integration of life
science technologies with a focus on transforming gene discoveries
into drugs. The company has research collaborations with world-class
pharmaceutical companies, covering a broad range of therapeutic areas,
including respiratory, cardiovascular, and infectious disease, as well
as oncology and central nervous system disorders. |
