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Biotech / Medical : Kosan BioSciences -- KOSN -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (13)	7/11/2001 11:46:55 AM
From: scaram(o)uche	Read Replies (1) \| Respond to of 933

Wednesday July 11, 7:00 am Eastern Time Press Release Kosan Receives NIH Grant to Generate Novel Antibiotics HAYWARD, Calif.--(BW HealthWire)--July 11, 2001--Kosan Biosciences Incorporated (Nasdaq:KOSN - news) announced today that it was awarded a Phase I Small Business Innovative Research grant from the National Institute of Allergy and Infectious Disease. The $555,000 two-year grant was awarded to Kosan to develop a novel class of macrolide antibiotics. ``Our goal is to create an entirely new class of antibiotics that bind to multiple sites on the ribosome,'' said Leonard Katz, Ph.D., Vice President of Biological Sciences at Kosan and the principal investigator for the grant. ``Using our enabling technology and principles of rational drug design, we will pioneer the use of recently elucidated ribosome structures to develop novel anti-microbial agents,'' added Katz. Kosan Biosciences Incorporated is a biotechnology company that has proprietary gene-engineering technologies for the manipulation and production of polyketides, a rich source of pharmaceuticals. Kosan uses its platform technologies to develop product candidates that target large pharmaceutical markets. Therapeutic targets for the Company's compounds include cancer, infectious disease, gastrointestinal motility disorders, mucus hypersecretion and nerve regeneration. This news release contains forward-looking statements, including those regarding Kosan's research plans for new antibiotics and its technologies, product opportunities and target markets. Actual results could differ materially. These statements are subject to risks and uncertainties, including, without limitation, whether Kosan's research will succeed in generating novel anti-microbial compounds that successfully advance through pre-clinical and clinical testing, Kosan's ability to maintain or establish collaborations and proprietary rights and avoid claims of infringement of third party proprietary rights and the risk factors included in Kosan's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and other periodic reports it files with the SEC. Contact: Kosan Biosciences Michael S. Ostrach, 510/732-8400 ext. 207 or Burns McClellan, Inc. Stephanie Diaz, 415/352-6262 (Investors) Nancy Robinson, 415/352-6262 (Media)