Hmmmmmm, maybe there is something to Axcell after all.
Ed
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Cytogen Announces Next Steps in Partnership Between Its Subsidiary,
Axcell Biosciences, and Informax, Inc.
Jump to first matched term
AxCell Biosciences and InforMax Finalize Strategic Partnership Focusing on AxCell's Proprietary
Proteomics Database
PRINCETON, N.J., Sept. 16 /PRNewswire/ -- Cytogen Corporation (Nasdaq: CYTO) announced that its
wholly owned subsidiary, AxCell Biosciences Corporation (AxCell), and InforMax, Inc. (InforMax) have
signed a final agreement to market AxCell's proprietary proteomics database, currently under
development, as part of an enterprise bioinformatics solution to the Pharmaceutical, Biotechnology and
Agricultural industries. This agreement represents an important advancement of AxCell's proteomic
platform. As previously discussed by Cytogen, AxCell represents one of three technology platforms that
comprise Cytogen's strategy for future growth of the company. The other components of growth are
embodied in Cytogen's products, and Cytogen's potentially broad PSMA platform, which is under
development for immunotherapeutic and other approaches, particularly in prostate cancer.
The multi-year agreement provides for technology development by InforMax to link AxCell's database to
InforMax's Software Solution for BioMedicine (SSBM) enterprise bioinformatics system. InforMax will lead
the marketing effort in exchange for a royalty payment on sales. AxCell and InforMax will initially
concentrate on an early subscriber program for pharmaceutical organizations interested in early access
to the data and an opportunity to provide direction on both the disease areas of research and the
computational aspects of the database.
InforMax and AxCell will be available to discuss their collaborative product at the 11th International
Genome Sequencing and Analysis Conference, September 18-21, 1999, in Miami Beach, Florida. A
hospitality suite has been sponsored by InforMax for demonstrations of SSBM. InforMax and AxCell
personnel will be available for discussions on the protein pathway database.
Aberrations in protein-protein interactions are at the heart of the molecular basis of many diseases.
AxCell uses proprietary technology which identifies protein pathways to create the Inter-Functional
Proteomic(SM) (IFP) Database. A significant feature of AxCell's technology is the ability to utilize existing
high-throughput instrumentation. As a result, AxCell is creating a database which is designed to identify
valuable protein interactions as novel drug targets. An important additional potential use of the database
will be to assist in optimizing drug design so as to minimize unwanted side effects. The AxCell-InforMax
product, which will link the database with an intuitive user interface in an enterprise system, is designed
to allow customers to utilize this valuable information with other existing information and algorithms.
"Proteomics, in combination with bioinformatics, is the next step in creating the first total
pharma-informatic solution to drug discovery," said Dr. Alex Titomirov, Chairman and CEO of InforMax.
"We have diligently surveyed the proteomics offerings and have enormous confidence in AxCell's
database product and are looking forward to our continued relationship with AxCell," Dr. Titomirov
added.
"AxCell will begin discussions immediately with potential early subscribers. This program will give
pharmaceutical organizations early access to this valuable data," commented H. Joseph Reiser, Ph.D.,
Cytogen's President and Chief Executive Officer. "While AxCell will be researching the entire proteome in
creation of the database, the initial direction will be influenced by this select group of early subscribers,"
added Dr. Reiser.
Cytogen Corporation, based in Princeton, New Jersey, is a biopharmaceutical company that develops
new treatments and diagnostics for cancer and urological diseases. For information on Cytogen,
including prescribing information as to its approved products, visit the Company's web site at
cytogen.com.
AxCell Biosciences, established in late 1996, is a biopharmaceutical content provider with proprietary
technology, which it is using to identify intracellular protein-protein interactions. These interactions form
the core of the Company's Inter-functional Proteomic (IFP) Database. AxCell's mission is to offer the IFP
Database to accelerate the industry's drug discovery process for treatment of cancer, cardiovascular,
autoimmune and central nervous system diseases.
InforMax Inc., headquartered in Rockville, MD, is a leader in the development of bioinformatics software
for accelerated drug discovery. Founded in 1990 by Dr. Alex Titomirov, InforMax enables over 10,000
researchers worldwide to achieve greater insights into genetic function through biological data mining
and integrated sequence analysis. Unlike other bioinformatics software, InforMax products are designed
with the ResearchLogic(TM) system, a knowledge base that mirrors the molecular biologist's natural
process of scientific inquiry. Presently, InforMax offers Vector NTI Suite(TM) for desktop sequence
analysis and Software Solution for BioMedicine(TM) for enterprise bioinformatics.
Information in this press release which is not historical is forward-looking and involves risks and
uncertainties. Actual results may differ materially for a variety of reasons, including uncertainties
associated with product development, Cytogen Corporation's and AxCell's ability to maintain a
proprietary position for the technology, competition, acceptance of the product by pharmaceutical or other
companies, the ability of AxCell's partner InforMax to develop technology components and market the
product, and for other reasons discussed in Cytogen Corporation's filings with the Securities and
Exchange Commission. Cytogen undertakes no duty to update the information in this release.
SOURCE Cytogen Corporation
/CONTACT: John D. Rodwell, Ph.D. of AxCell Biosciences Corp.,
609-750-8299, info@axcellbio.com; Timothy Sullivan of InforMax, Inc.,
301-984-2206, Sullivan@InforMaxinc.com; or Media - Matthew Knight,
212-696-4455, ext. 271, of Noonan-Russo Communications Inc., for Cytogen/
/Web site: cytogen.com |
