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Biotech / Medical : Oscient Pharmaceuticals Corp. (OSCI) -- Ignore unavailable to you. Want to Upgrade?

To: OldAIMGuy who wrote (950)	6/18/2001 9:50:46 AM
From: tuck	Read Replies (1) \| Respond to of 1154

>>WALTHAM, Mass., June 18 /PRNewswire/ -- Genome Therapeutics Corp. (Nasdaq: GENE - news) announced today the receipt of milestone payments from Wyeth- Ayerst, the pharmaceutical division of American Home Products (NYSE: AHP - news), for the completion of a major advancement in their genomics-based alliance to develop novel therapeutics for the prevention and treatment of osteoporosis. A joint publication describing the scientific discoveries supporting this milestone is planned. ``Our success represents the benefits of our collaborations with a leader in women's health, Wyeth-Ayerst and the premier bone mineral geneticists at Creighton University,'' commented Steven M. Rauscher, CEO and President, Genome Therapeutics. ``Attaining these research milestones in our alliance with Wyeth- Ayerst helps validate our proven research approach in chronic human diseases.'' The advancement is the result of a multi-year alliance between Wyeth- Ayerst and Genome Therapeutics, building on research previously conducted with the Creighton University Osteoporosis Research Center. Genome Therapeutics gained access to a unique family of individuals exhibiting a high bone mass trait from Creighton University in 1997, providing a potential shortcut to the identification of novel genes and targets for new product development in osteoporosis. ``This milestone is a major advance in our efforts to harness genomics for the development of therapies with potential to prevent or treat osteoporosis,'' said Robert Ruffalo, Ph.D., Executive Vice-President, Research and Development, at Wyeth-Ayerst Research. ``We are pleased with the rapid pace of discovery in this alliance with Genome Therapeutics.''<< snip Cheers, Tuck