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Biotech / Medical : Protein Design Labs (PDLI): Stock strong -- Ignore unavailable to you. Want to Upgrade?

To: nigel bates who wrote (183)	7/11/2001 11:09:23 AM
From: nigel bates	Respond to of 407

KIRKLAND, Wash. & PALO ALTO, Calif.--(BUSINESS WIRE)--July 11, 2001--Rosetta Inpharmatics, Inc. (Nasdaq:RSTA - news), a leading developer of gene expression data analysis software, and Agilent Technologies Inc. (NYSE:A - news) today announced that Protein Design Labs, Inc. (Nasdaq:PDLI - news), a leader in the development of humanized monoclonal antibodies, has licensed the Rosetta Resolver® Gene Expression Data Analysis System. The Rosetta Resolver system is a bioinformatics system for gene expression research developed by Rosetta Inpharmatics and exclusively distributed by Agilent. The Rosetta Resolver system can be used with a variety of third-party and internally developed DNA microarray technologies, including Affymetrix GeneChip® probe arrays and Agilent DNA microarrays. ``Our mission at Protein Design Labs is to create and develop novel antibody-based therapeutics,'' said Dr. Max Vasquez, director of target validation at Protein Design Labs. ``With its sophisticated data analysis, the Rosetta Resolver system will be an important tool to enable gene expression technology as a key component in our antibody target identification and validation programs.'' ``Protein Design Labs' licensing of the Rosetta Resolver system confirms the system's vital role in gene expression research for the development of drugs and therapies,'' said Bill Buffington, vice president and general manager of Agilent Technologies' Life Sciences Business Unit. ``Protein Design Labs joins other biopharmaceutical companies, such as Biogen and Immunex, who have empowered their gene expression research efforts with the Rosetta Resolver system.'' About the Rosetta Resolver System The Rosetta Resolver system provides high-capacity data storage, retrieval and analysis of gene expression data. The system is ideal for life science research organizations that need to assess compound specificity or toxicity, identify new genes or therapeutic targets, or compare and analyze large databases of expression profiles. The Rosetta Resolver system combines flexibility and ease of use with high-performance algorithms to produce an enterprise solution for rapid analysis of gene expression data. The system can accept and analyze data from a wide variety of expression profiling formats, including Affymetrix GeneChip Probe Arrays and Agilent DNA microarrays, and applies Rosetta Inpharmatics' proprietary error models to yield quality statistics for every gene expression measurement. These statistics are automatically leveraged by all analysis tools, ensuring reliable results. In addition to Protein Design Labs, many of the world's leading life science organizations have licensed the Rosetta Resolver system, including Biogen, DuPont Pharmaceuticals, GlaxoSmithKline, Harvard University Center for Genomics Research, and Monsanto. Additional information about the Rosetta Resolver system can be found on Rosetta Inpharmatics' Web site at www.rii.com...

To: nigel bates who wrote (183)	7/11/2001 11:17:49 AM
From: nigel bates	Respond to of 407

SOUTH SAN FRANCISCO, Calif. and FREMONT, Calif., July 11 /PRNewswire/ -- Just one month into their collaboration, scientists at Protein Design Labs, Inc. (Nasdaq: PDLI - news; PDL) have agreed to pursue several cancer antibody targets from Exelixis, Inc. (Nasdaq: EXEL - news). ``We are extremely pleased with the candidate targets that we will investigate more intensively for their contribution to tumor growth regulation, and believe that this new relationship brings substantial value to our oncology program,'' said Laurence Jay Korn, Ph.D., chief executive officer and chairperson of PDL. ``The targets Exelixis is delivering have novel properties, and may provide a unique approach to the treatment of cancer. While these are just the first steps, we have already seen promising results from this collaboration and expect it will continue to yield useful avenues for discovery.'' ``There is already a lot of excitement surrounding our collaboration with Protein Design Labs, and we look forward to seeing the progress from these targets,'' stated George A. Scangos, Ph.D., president and chief executive officer of Exelixis. ``It's gratifying to see our work move forward aggressively in the hands of an excellent partner like PDL. We're all excited about the potential represented by antibodies against these first targets to emerge from our collaboration.'' The collaboration, signed in May 2001, utilizes Exelixis' expertise in target identification and validation to discover novel antibody targets, and PDL's proficiency in antibody and clinical development and manufacturing to create humanized antibodies for the diagnosis, prevention and treatment of cancer. Under the terms of the agreement, PDL purchased a $30 million convertible note, convertible after the first year into shares of Exelixis common stock, and will fund the Exelixis research at $4 million per year for a period of at least two years. PDL will receive an exclusive, worldwide license to develop antibodies against certain targets identified by Exelixis that are involved in cell growth, apoptosis (cell death) and proliferation. Exelixis will have the right to co-fund and co-develop antibodies resulting from the collaboration. For antibody products developed by PDL that Exelixis elects not to co-develop, Exelixis will be entitled to specified milestone payments and royalty payments on any product sales. Protein Design Labs, Inc. is a leader in the development of humanized antibodies to prevent or treat various disease conditions. PDL currently has antibodies under development for autoimmune and inflammatory conditions, asthma and cancer. PDL holds fundamental patents in the U.S., Europe and Japan for its antibody humanization technology. Further information is available at www.pdl.com...