This could be a good exit point if we rally on this:
Thursday September 16, 6:30 am Eastern Time
Company Press Release
SOURCE: Hyseq, Inc.
Hyseq to Launch GeneSolutions.com
E-Commerce Website to Expand Market for Proprietary Genomic Information
SUNNYVALE, Calif., Sept. 16 /PRNewswire/ -- Hyseq, Inc. (Nasdaq: HYSQ - news) announced today its plan to launch GeneSolutions.com, a new
website offering genomic resources to pharmaceutical and biomedical researchers worldwide. Other providers of the type of information to be offered on
GeneSolutions.com have required multi-million dollar subscription fees. With the launch of GeneSolutions.com, gene sequences and related data will be
available to all researchers, for purchase on an item-by-item basis, even by using a credit card. Cost efficiencies of Hyseq's technology allow prices to be
set lower than the cost for a researcher to generate the data in-house. By not charging subscription fees, Hyseq hopes to expand access and to capture a
broader segment of the market, which is currently estimated to be hundreds of millions of dollars in revenues per year. The new website will be found at
www.genesolutions.com as of September 23, 1999.
GeneSolutions.com will offer the three basic types of information that researchers need: sequence information (chemical structure); homology data and
SNPs (similarity to genes in the public databases, including genes with known commercial value); and expression data (activity levels of genes in tissues).
''Knowing where genes are expressed, and the levels at which they are expressed in a tissue, allows researchers to determine how genes work. The
expression data on GeneSolutions.com will include results from screening tissues for all genes, which we believe will make it the most comprehensive
expression database available,'' said Lewis Gruber, President and CEO of Hyseq, Inc.
Hyseq is transferring information and data to GeneSolutions Inc., its wholly-owned subsidiary, from more than 12 million DNA samples that it has
analyzed for its own use, over twice the number reported by any competitor. Because Hyseq has mined tissues to find genes with expression levels as low
as one copy per cell, many hard-to-find ''rare'' genes will be available on GeneSolutions.com. Many researchers believe that products of ''rare'' genes
(like Amgen's Epogen®) have the most potential as pharmaceuticals. ''By using the Internet, researchers worldwide will have access to this wealth of
genomic information. We expect this to advance the development of innovative and safe drugs,'' said Mr. Gruber.
GeneSolutions.com also offers the GeneSolutions(TM) Message Board and the GeneSolutions(TM) Exchange. The GeneSolutions(TM) Message Board
is a resource for exchanging genomic information within the worldwide research community. The GeneSolutions(TM) Exchange is a resource for individual
researchers, research institutions and life sciences enterprises to post proprietary gene sequences for licensing to researchers who come to
GeneSolutions.com for online sequences and data.
''We will continue to add features and data to GeneSolutions.com after our September 23, 1999 release to meet the needs of users. This growth and the
integration of gene information from others should make GeneSolutions.com a valuable resource for researchers worldwide,'' said Dr. Radoje Drmanac,
Chief Scientific Officer of Hyseq, Inc.
''While Hyseq continues its development of biopharmaceutical product candidates, such as its IL-1Hy1, a potential anti-inflammatory product and
CD39L4, a potential anti-clotting product, GeneSolutions.com will allow researchers worldwide to access a large amount of proprietary data that Hyseq
does not expect to use itself,'' said Mr. Gruber.
Hyseq, Inc. is a biopharmaceutical company with a growing pipeline of therapeutic and diagnostic product candidates for meeting medical and healthcare
needs. GeneSolutions Inc. is a wholly-owned subsidiary of Hyseq, Inc. Hyseq's business includes discovery of therapeutic targets for its corporate
partners using proprietary genomics technologies, facilitation of drug development for its corporate partners through pharmacogenomics/polymorphism
programs, and commercialization of DNA analysis tools such as the HyChip(TM) universal DNA sequencing chip. Information about Hyseq is available
on the World Wide Web at Error! Reference source not found. or by phoning 408-524-8100.
Statements included in this press release which are not historical in nature, are intended to be, and are hereby identified as ''forward-looking statements''
for purposes of the safe harbor provided by the Private Securities Litigation Act of 1995. Forward-looking statements may be identified by words
including ''anticipate,'' ''believe,'' ''intends,'' ''estimates,'' ''expect'' and similar expressions. The Company cautions readers that forward-looking
statements, including without limitation, those relating to the Company's future business prospects are subject to certain risks and uncertainties that could
cause actual results to differ materially from those indicated in the forward-looking statements. For a discussion of factors that may cause results to differ,
see the Company's reports filed with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 1998. Hyseq disclaims any
intent or obligation to update these forward-looking statements.
SOURCE: Hyseq, Inc.
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