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Biotech / Medical : PE Biosystems (PEB) -- Ignore unavailable to you. Want to Upgrade?

To: Leman who wrote (41)	5/13/1998 1:25:00 PM
From: Leman	Respond to of 122

Chiron-Hyseq Cancer Collaboration Yields Patent Filings For Over 2,200 Novel Genes PR Newswire - March 31, 1998 07:01 CHIR HYSQ %MTC V%PRN P%PRN Jump to first matched term Sequencing by Hybridization Technology Used in Major Cancer Gene Search EMERYVILLE and SUNNYVALE, Calif., March 31 /PRNewswire/ -- Chiron Corporation (Nasdaq: CHIR) and Hyseq, Inc. (Nasdaq: HYSQ) announced today that the two companies have discovered more than 2,200 novel genes as a result of their cancer gene discovery collaboration. Patent protection has been filed for all 2,200 genes. Hyseq's proprietary Sequencing By Hybridization (SBH) technology was used to discover new genetic targets from normal tissue and tissue adjacent to cancerous tumors. Since the collaboration began at the end of May 1997, Hyseq has analyzed over 1.5 million samples from diverse tissues for Chiron, to create one of the world's largest proprietary cancer gene databases. Hyseq will receive significant milestone and royalty payments from any drugs and new targets that are discovered resulting from this research. "We have now assembled one of the most important databases in the world for elucidating the genetic causes of cancer," said Lewis 'Rusty' Williams, MD, PhD, president of Chiron Technologies. "Hyseq's technology for rapidly sequencing samples has allowed us to create a much larger database than we believed possible. All of this genetic information will be utilized to understand the roles of multiple genes in this disease." By obtaining information on genes associated with cancer, it may be possible to develop significantly improved pharmaceutical products that impact the primary cause of the disease. Lewis Gruber, president and CEO of Hyseq, commented, "We are extremely pleased with the results of our collaboration with Chiron. Our technology has yielded results we believe surpass every similar collaboration between genomics and pharmaceutical companies in such a short timeframe. We believe this technology will play a major role in helping the pharmaceutical industry discover revolutionary drugs against this deadly disease." Chiron Corporation, headquartered in Emeryville, California, is a leading biotechnology company that participates in three global health care markets: diagnostic, therapeutic, pediatric and adult vaccines. Chiron also conducts research and development in the fields of biological proteins, gene therapy and combinatorial chemistry. Hyseq, Inc., based in Sunnyvale, California, applies the proprietary DNA array technology of its integrated HyX(SM) genomics platform to produce gene- based therapeutic and diagnostic product candidates, the only universal DNA sequencing chip, and diagnostic tests. Hyseq believes that its proprietary HyGenomics(TM) partial human gene sequence database is the fastest growing and largest in the world, with over 5 million already analyzed, without including the over 1.5 million analyzed for Chiron. Statements included in this press release that 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 Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words including "anticipate", "believe", "intends", "estimates", "expect" and similar expressions. The companies caution readers that forward-looking statements, including without limitation, those relating to either company's future business prospects are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements, due to factors such as those relating to prosecuting, maintaining and defending patent rights, and other risks and factors identified from time to time in either company's reports filed with the Securities and Exchange Commission.