Axys Pharmaceuticals and Merck Extend Osteoporosis Collaboration
SOUTH SAN FRANCISCO, Calif.--(BW HealthWire)--December 21, 1998--Axys Pharmaceuticals, Inc. (Nasdaq:AXPH) announced today that it has agreed with Merck & Co., Inc. (NYSE:MRK) to extend their osteoporosis drug discovery collaboration for one additional year until early November, 1999. The focus of the research collaboration is the development of small molecule inhibitors of cathepsin K, a cysteine protease target that is believed to play a role in osteoporosis.
In November 1996, Axys signed a two-year drug discovery collaboration with Merck to develop small molecule inhibitors of cathepsin K as a treatment for osteoporosis. In February 1997, Axys announced it had solved the three-dimensional crystal structure of cathepsin K.
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.
Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties which could cause Axys' actual results to differ materially from those discussed here, including Axys' reliance on the efforts of its collaborative partners, the risk that Axys' collaborations will not be successful risk that clinical trials will not proceed as anticipated or may not be successful, the risk of Axys' early stage of development, the risk that Axys will not be successful in entering into new collaborations, competition, the risk of unexpected difficulties and delays and the development of new technologies, and general economic conditions that may affect Axys' actual results and development. Additional factors that could cause or contribute to such differences include, but are not limited to, those discussed in the sections entitled "Business" and "Additional Risk Factors" in the company's SEC Reports, including the company's report on Form 10K for the fiscal year ended Dec. 31, 1997. -0-
For more information on Axys Pharmaceuticals, Inc., please visit the company's website at axyspharm.com.
CONTACT:
Axys Pharmaceuticals, Inc.
Michael Venuti, Ph.D.
Sr. V.P., Research & Preclinical Development
or
David Gennarelli
Manager Investor Relations
(650) 829-1000
or
Burns McClellan, Inc.
Justin Jackson, Heather McAllister (media)
Jonathan M. Nugent (investors)
(212) 213-0006 |
