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Biotech / Medical : Biotechnology Value Fund, L.P. -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (1311)	2/7/2000 6:03:00 PM
From: scaram(o)uche	Respond to of 4974

[ parking, Ixsys renamed ] Monday February 7, 3:00 pm Eastern Time Company Press Release Biotechnology Firm Applied Molecular Evolution Inc. Announces Name Change From Ixsys Inc. SAN DIEGO--(BW HealthWire)--Feb. 7, 2000--San Diego-based Ixsys Inc. has changed its name to Applied Molecular Evolution Inc. (AME) to better reflect its core platform technology based on Directed Evolution. Directed Evolution is the process of subjecting DNA, which encodes for a protein, to a rapid evolutionary process in the test tube, the result of which is to make the protein work better by improving its useful functions. According to Founder and Chief Executive Officer Dr. William Huse, the company's new name reflects its corporate growth strategy. ''Changing our corporate name is part of an overall strategy of expanding our target markets,'' he said. ''Simply stated, applying Directed Evolution to enhance the useful functions of proteins at a molecular level is what we do. Our proprietary technology platform is inherently optimal for developing biotherapeutics as well as a variety of commercial products, yet the underlying role we play is the same regardless of the application.'' About Applied Molecular Evolution Founded in 1989, Applied Molecular Evolution Inc. (AME) has developed a broad proprietary platform technology in protein engineering based upon Directed Evolution and centered around the Kauffman and Codon Based Synthesis (CBS) patents. AME leverages these technologies to discover, optimize and develop proteins with commercial potential, and is the only Directed Evolution company with a proven track record of successfully developing biotherapeutics. AME and its subsidiaries, Novasite Pharmaceuticals Inc. (drug discovery) and Phase IV Pharmaceuticals Inc., (drug development) are headquartered in San Diego. Contact: Bailey/Gardiner Creative Communications Marlena Reed, 619/298-9300 marlena@baileygardiner.com or Jonathan Bailey, 619/298-9300 jon@baileygardiner.com