Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : KDUS, who knows this company? -- Ignore unavailable to you. Want to Upgrade?

To: Dave K who wrote (103)	4/14/1998 9:34:00 AM
From: gy	Read Replies (1) \| Respond to of 117

News release: Cadus Receives Composition of Matter Patent and Notices of Allowance For Two U.S. Patent Applications on Its Core Yeast Technology TARRYTOWN, N.Y., April 14 /PRNewswire/ -- Cadus Pharmaceutical Corporation (Nasdaq: KDUS - news) today announced that the U.S. Patent and Trademark Office (PTO) has issued U.S. patent number 5,739,029 covering the company's core yeast technology. In addition, the PTO has given Cadus notice that it has allowed two patent applications relating to Cadus's Self-Selecting Combinatorial Library (SSCL(TM)) technology, but has not yet determined their issue dates. U.S. patent number 5,739,029 covers the composition of matter of Cadus's hybrid yeast cells. In January 1996, Cadus received a related patent covering the methodology of functionally inserting mammalian G protein-coupled receptors and associated signaling proteins into yeast cells. The composition of matter patent issued today strengthens Cadus's proprietary position with respect to the development of drug discovery assays that it uses both for its in-house and collaborative research programs. The two allowed patent applications, with effective filing dates in March 1993, cover the use of Cadus's SSCL(TM) technology to identify modulators that act on signal transduction kinases and farnesyl transferases respectively. In addition, the allowed patent applications also disclose the incorporation of mutations in certain yeast genes (including STE2, STE3, SST2, FUS1 and FAR1) to enhance signaling through the yeast pheromone response pathway. David R. Webb, Ph.D., Cadus's Vice President of Research and Chief Scientific Officer stated, ''We are very pleased to have been granted the composition of matter patent and received notice of the two allowances. Having already been issued a U.S. patent covering the methodology relating to our hybrid yeast technology, Cadus now has a strengthened position regarding its core assay development technology. These two allowed patent applications,'' Dr. Webb continued, ''are the first of what we believe will be a series of allowances from our pending patent applications that cover the identification of modulators to receptors and associated signaling molecules. Significantly, the allowed patent applications also demonstrate Cadus's strength in the efficient, functional coupling of mammalian components to the yeast signal transduction pathway.'' Cadus is a biotechnology company engaged in the discovery of novel small molecule therapeutics. The company is a leader in the development of proprietary technologies that exploit the similarities between the yeast and human genomes to create drug discovery tools and to elucidate gene function and cell signaling pathways. The company's drug discovery efforts and its collaborations with pharmaceutical and biotechnology partners span many therapeutic areas, including allergy/asthma, other inflammatory disorders, and cardiovascular, gastrointestinal, endocrine, and metabolic diseases, as well as immunology, central nervous system disorders, and cancer. The statement that certain pending patent applications are expected to be allowed is a forward-looking statement that may not prove to be accurate. This press release may contain other forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in the company's prospectus dated July 17, 1996 or detailed from time to time in filings that the company makes with the Securities and Exchange Commission. These include risks and uncertainties relating to the company's relationship with its collaborative partners, the acquisition and licensing of technology, rapid technological change, an intensely competitive market, intellectual property rights, delays in product development and general economic conditions. How good is the news for KDUS? Does it mean no trouble anymore for the compary to use their hybrid yeast technology?