Hyseq Pharmaceuticals and UCSF Sign License Agreement with Celera Diagnostics
SUNNYVALE, Calif., Sept. 9 /PRNewswire-FirstCall/ -- Hyseq Pharmaceuticals, Inc. (Nasdaq: HYSQ - News) today announced a license agreement with Celera Diagnostics, a joint venture between the Applied Biosystems Group (NYSE: ABI - News) and the Celera Genomics Group (NYSE: CRA - News) of Applera Corporation, and the University of California, San Francisco (UCSF). The agreement grants Celera Diagnostics non-exclusive access to a large-scale patient sample collection. Financial terms were not disclosed.
The database, which contains more than 12,000 DNA samples and accompanying clinical data, is expected to be used to elucidate the molecular genetics of cardiovascular disease.
"Only 30 to 50 percent of known risk factors for hypertension, diabetes and arteriosclerosis have been accounted for; most of the remaining risk factors are likely to be found in the human genome," said Dr. John Kane, professor of medicine; professor of biochemistry and biophysics; associate director, cardiovascular research; director of the Lipid Clinic at UCSF and principal investigator of the genomic resource in arteriosclerosis. "We have established an invaluable genomic resource that we believe will allow us to detect these unknown genomic determinants. These insights are likely to point to targets for the development of future treatments for cardiovascular disease."
"This agreement facilitates our efforts to generate insights into the molecular genetics of common complex diseases," said Dr. Linda McAllister, director of medical genetics, Celera Diagnostics. "Our access to this sample resource should support our development of new diagnostics for cardiovascular diseases."
"This license agreement demonstrates Hyseq's strategy to build value from our non-biopharmaceutical assets," said Dr. Ted W. Love, president and chief executive officer of Hyseq Pharmaceuticals. "It will enable us to bring additional revenues into the company for our drug discovery and development efforts, while enhancing an already extensive clinical database."
About Hyseq
Hyseq Pharmaceuticals, Inc. is engaged in research and development of novel biopharmaceutical products from its collection of proprietary genes discovered using its high-throughput screening-by-hybridization platform. Hyseq's screening-by-hybridization platform provided a significant advantage in discovering novel, rarely-expressed genes, and assembly of one of the most important proprietary databases of full-length human gene sequences. Hyseq is expanding and accelerating its research activities to further elucidate the role of novel genes in its proprietary database. Hyseq's database includes genes which encode a number of therapeutically important classes of molecules including chemokines, growth factors, stem cell factors, interferons, integrins, proteases, hormones, receptors, and other potential protein therapeutics or drug targets.
Information about Hyseq Pharmaceuticals is available at www.hyseq.com or by phoning 408-524-8100.
Statements contained in this press release which are not historical in nature, are intended to be, and are hereby identified as "forward-looking statements" for purposes of the safe harbor provided by the Private Securities Litigation Act of 1995. Forward-looking statements may be identified by words such as "believe," "expect," "anticipate," "should," "may," "estimate," "goals," and "potential," among others. Such statements are based on our management's current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, uncertainties relating to unanticipated difficulties and delays relating to gene identification, drug discovery and clinical development processes; changes in relationships with strategic partners and dependence upon strategic partners for the performance of critical activities under collaborative agreements; the impact of competitive products and technological changes; uncertainties relating to patent protection and regulatory approval; and uncertainties relating to our ability to obtain substantial additional funds required for progress in drug discovery and development. These and other factors are identified and described in more detail in our periodic reports filed from time to time with the SEC, including without limitation our Annual Report on Form 10-K for the year ended December 31, 2001. We disclaim any intent or obligation to update these forward-looking statements.
About Applera Corporation and Celera Diagnostics
Celera Diagnostics is a 50/50 joint venture between two Applera Corporation businesses, Applied Biosystems and Celera Genomics. Headquartered in Alameda, CA, Celera Diagnostics focuses on discovering novel genetic markers for disease and configuring these into new diagnostic tests to predict, characterize, monitor and select therapy for cardiovascular disease, auto-immunity, central nervous system disorders, and cancer. The Applied Biosystems Group develops and markets instrument-based systems, reagents, software, and contract services to the life science industry and research community. Customers use these tools to analyze nucleic acids (DNA and RNA), small molecules, and proteins to make scientific discoveries, leading to the development of new pharmaceuticals, and to conduct standardized testing. Applied Biosystems is headquartered in Foster City, CA, and reported sales of $1.6 billion during fiscal 2002. The Celera Genomics Group, located in Rockville, MD, and South San Francisco, CA, is engaged principally in integrating advanced technologies to discover and develop new therapeutics. Celera intends to leverage its genomic and proteomic technology platforms to identify drug targets and diagnostic marker candidates, and to discover novel therapeutic candidates. Its Celera Discovery System(TM) online platform, marketed exclusively through the Knowledge Business of Applied Biosystems, is an integrated source of information based on the human genome and other biological and medical sources. Information about Applera Corporation, including reports and other information filed by the company with the Securities and Exchange Commission, is available at www.applera.com, or by telephoning 800-762-6923.
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Source: Hyseq Pharmaceuticals, Inc. |
