AXYS PHARMACEUTICALS LAUNCHES ADVANCED
TECHNOLOGIES DIVISION
Names Division Management
South San Francisco, CA -- January 14, 1998
-- AXYS Pharmaceuticals, Inc. (Nasdaq: AXPH),
formerly Arris Pharmaceutical Corporation and
Sequana Therapeutics, Inc., announced today
the launch of an Advanced Technologies
Division to focus the company's efforts in
commercializing its capabilities in
combinatorial chemistry and pharmacogenomics
as well as its patented Delta technology.
AXYS also indicated that the new division
management would be lea by Robert A. Reed,
Ph.D., AXYS vice president and divisional
general manager, and Douglas A. Livingston,
Ph.D., divisional vice president,
combinatorial chemistry.
"During the course of building AXYS'
complete drug discovery capability from gene
to drug, we have developed valuable
technology in a number of areas," stated
Daniel Petree, AXYS president and chief
operating officer. "We believe those
technologies, in addition to driving our drug
discovery program, represent significant
revenue and business building opportunities
for the company. We have already begun the
commercialization of our combinatorial
chemistry capability through a major
collaboration with Pharmacia and UpJohn. We
intend to build on that success by licensing
our combinatorial chemistry technology to
pharmaceutical and biotech companies and by
collaborating with companies wishing to
screen our libraries.
"In addition, the Advanced Technologies
Division will be charged with aggressively
building and commercializing the company's
pharmacogenomics and diagnostics business,"
Petree continued. "We expect to collaborate
with pharmaceutical companies and clinical
research organizations (CROs) on developing
genetic markers for success in clinical
trials and for the diagnostic identification
of optimal patient populations for approved
drugs. "
...Division Management
Robert A. Reed, Ph.D., formerly senior
director of business development at AXYS has
been promoted to AXYS vice president and
general manager of the Advanced Technologies
Division. Reed will report directly to
Daniel Petree, AXYS' president and COO.
Additionally, Douglas A. Livingston, Ph.D.,
formerly AXYS director of combinatorial
chemistry, has been promoted to vice
president of combinatorial chemistry of the
new division.
Prior to joining AXYS Pharmaceuticals in
early 1997, Reed was the strategic R&D
manager at Abbott Pharmaceutical's Products
Division, responsible for identifying and
evaluating biotechnology and pharmaceutical
companies for licensing and collaborative
opportunities. From 1990 to 1995, Reed was
at Pharmacia, Biosensor Division, serving
most recently as the national sales manager.
In 1989, he became the youngest scientist to
obtain a faculty position in the Biophysics
department of Boston University's School of
Medicine. He received his Masters and Ph.D.
in biochemistry from Boston University and a
Bachelors degree from the University of
Miami.
Livingston joined AXYS in 1996. Previously,
he was associate director of chemical
operations at La Jolla Pharmaceutical where
he co-directed the drug discovery program.
>From 1990 to 1992, Livingston was a third
level research scientist at Burroughs
Wellcome. He started his career in the
process research group at Upjohn in 1983. He
completed his undergraduate education at the
University of Washington and earned a M.A.
and Ph.D. in organic chemistry from Columbia
University.
AXYS Pharmaceuticals is a leader in the
integration of drug discovery technologies
from gene identification through clinical
development and is focused on the discovery
of small molecule therapeutics. The company
has research collaborations with world-class
pharmaceutical companies, covering a broad
range of therapeutic areas including
respiratory, cardiovascular, metabolic, and
infectious disease as well as oncology and
central nervous system disorders.
Contact: Daniel Petree, President and COO;
(619) 452-6550 or Shari Annes, V.P., Investor
Relations: (650)829-1000. Internet:
axyspharm.com.
Except for the historical information
contained herein, this press release contains
forward-looking statements that involve risks
and uncertainties that could cause the
Company's actual results to differ materially
from those discussed here, including the risk
that additional patents may not issue to the
Company or that issued patents may not
provide adequate protection, the Company's
early stage of development, the risk of the
Company's reliance on the efforts of its
collaborative partners, competition, and
general economic conditions that may affect
the Company's actual results and
developments. Additional factors that could
cause or contribute to such differences
include, but are not limited to, those
discussed in the sections entitled "Business
Risks" in the Company's SEC Reports,
including the report on Form 10-K for the
fiscal year ended December 31, 1996 and the
Company's Report on Form 10-Q for the quarter
ended September 30, 1997, as well as those
discussed in the section entitled "Risk
Factors" in the Company's Registration
Statement on Form S-4 filed with the SEC on
November 26, 1997.
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