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Biotech / Medical : Neurocrine Biosciences (NBIX) -- Ignore unavailable to you. Want to Upgrade?

To: Miljenko Zuanic who wrote (1093)	2/20/2003 10:22:18 AM
From: scaram(o)uche	Read Replies (1) \| Respond to of 1834

Biosite(R) Announces Collaboration Agreement With Neurocrine Biosciences Thursday February 20, 10:15 am ET SAN DIEGO, Feb. 20 /PRNewswire-FirstCall/ -- Biosite® Incorporated (Nasdaq: BSTE - News) today announced a multi-year collaborative agreement with Neurocrine Biosciences (Nasdaq: NBIX - News) intended to further each company's research efforts. Under the agreement, Biosite intends to use its Omniclonal® phage display technology to generate high-affinity antibodies to drug targets that Neurocrine will provide. Neurocrine expects to use the antibodies in its discovery research programs. The agreement also grants Biosite worldwide diagnostic licenses under Neurocrine's rights to various stroke targets selected by Biosite, which may have promising diagnostic potential. ADVERTISEMENT "We are pleased with this agreement, which will allow us to select certain stroke targets that can be evaluated for diagnostic potential," said Gunars Valkirs, Ph.D., vice president, Biosite Discovery. "Given the quality of Neurocrine's research efforts we are hopeful of finding a target that can be used in our own diagnostic development efforts." "Neurocrine's research group will use this state-of-the-art technology to focus on the development of antibodies that will provide an important component to help validate novel drug targets," said Paul Conlon, Ph.D, vice president research (biology) for Neurocrine Biosciences. Under the agreement, Neurocrine has agreed to provide Biosite with targets for a period of up to three years. In addition to the worldwide licenses under Neurocrine's rights to various stroke targets selected by Biosite, Biosite will receive development fees upon delivery of target-specific antibodies to Neurocrine and, if certain milestones are achieved, will receive milestone fees. (snip)