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Biotech / Medical : GLGC Gene Logic -- Ignore unavailable to you. Want to Upgrade?

To: Mike McFarland who wrote (91)	12/3/1999 9:59:00 AM
From: Biomaven	Read Replies (1) \| Respond to of 360

Really taken off today with yesterday's release and the gene frenzy. I added to my position some yesterday, but will probably cut back down to my original holding if the frenzy continues. Here's an extract form the release: GAITHERSBURG, Md., and OSAKA, Japan, Dec. 2 /PRNewswire/ -- Gene Logic Inc. (Nasdaq: GLGC - news) and Fujisawa Pharmaceutical Co, Ltd., announced today that they have entered an alliance for the development of a custom gene expression database. The program will focus on generating and evaluating gene expression information to aid in the development of therapeutic compounds in the field of diabetes. The signing of this alliance will be discussed in New York today by Michael J. Brennan, Gene Logic's chief executive officer, during a presentation at a medical conference sponsored by Robertson Stephens. Gene Logic will use its proprietary gene expression analysis tools and Affymetrix Inc.'s (Nasdaq: AFFX - news) GeneChip® probe arrays to identify genes that are more or less active, or differentially regulated, in people with diabetes than in normal individuals. Specifically, the Company will employ these technologies to study gene expression profiles in tissues involved in diabetes and study select tissues following exposure to proprietary and non- proprietary compounds. The research agreement will also grant Gene Logic the rights to data generated from the study for inclusion into the GeneExpress(TM) databases. Financial terms of the agreement were not disclosed. ''We are very pleased that Fujisawa Pharmaceutical, a pioneer in the manufacture of ethical pharmaceutical products, will be working with us on this critical disease area,'' commented Michael J. Brennan, Gene Logic's chief executive officer. ''This alliance typifies the Company's strategy of expanding its custom research database business in conjunction with the development and marketing of the GeneExpress(TM) Databases.'' Peter