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Biotech / Medical : Munch-a-Biotech Today
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To: Biomaven who wrote (122)3/30/1999 9:43:00 AM
From: scaram(o)uche  Read Replies (1) of 3158
 
regarding our earlier discussion of intellectual property...... it is not apparent from this release, but companies may be licensing this patent when they realize that they need it, not for research, but to begin development of something already discovered using the technology.......

Tuesday March 30, 8:02 am Eastern Time

Company Press Release

SOURCE: SIBIA Neurosciences, Inc.

SIBIA Neurosciences, Inc. Announces License of
Patented Transcription Based Assay Technology to
Bristol-Myers Squibb

LA JOLLA, Calif., March 30 /PRNewswire/ -- SIBIA Neurosciences, Inc. (Nasdaq: SIBI - news) today announced that it
has entered into a non-exclusive license agreement for its patented transcription based assay (TBA) technology with
Bristol-Myers Squibb (BMS). BMS will use SIBIA's TBA technology for identifying compounds which interact with cell
surface proteins for drug discovery. SIBIA will receive annual maintenance payments for use of the technology and royalty
payments if compounds discovered as a result of this technology are commercialized.

''We are pleased that BMS has licensed our TBA patent,'' said Stephen F. Keane, SIBIA's Vice President of Corporate
Development. ''This technology is a broadly enabling tool that can create value for every pharmaceutical and biotechnology
company involved in drug discovery.''
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