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Biotech / Medical : Biochem Pharma (BCHE) -- Ignore unavailable to you. Want to Upgrade?

To: Del Holmes who wrote (453)	10/1/1998 8:54:00 AM
From: Dan Courtemanche	Respond to of 783

Thursday October 1, 8:02 am Eastern Time Company Press Release SOURCE: Structural Bioinformatics Inc. Structural Bioinformatics Inc. Generates Antiviral Lead Compound From Gene Sequence to Achieve Milestone in BioChem Pharma Collaboration SAN DIEGO, Oct. 1 /PRNewswire/ -- Privately held Structural Bioinformatics Inc. (''SBI'') of San Diego, California announced today that BioChem Pharma (Nasdaq: BCHE; Toronto,Montreal: BCH) has accepted a lead compound for the treatment of a human viral infectious disease, triggering a milestone payment in their BioChem Pharma collaboration. SBI entered into the collaborative agreement with BioChem in August of 1997 to find leads for certain viral and cancer targets. The lead compound will now be further developed by BioChem. SBI will receive future fees upon the fulfillment of additional milestones including the successful completion of clinical trials. ''This is another excellent validation of our proprietary protein modeling approach to drug design which permits rapid generation of novel leads from gene sequences for which no protein crystal structures are available'' said Dr. Edward Maggio, Chairman, President and Chief Executive Officer of SBI. ''We've had similar success in other projects including development of antagonists for the TNF receptor. Clearly, many other therapeutic targets are amenable to this approach.'' BioChem Pharma is an international biopharmaceutical company dedicated to the research, development and commercialization of innovative products for the prevention, detection and treatment of human diseases. The Company's shares are traded on the Montreal and Toronto stock exchanges (BCH) and on Nasdaq National Market (BCHE). Structural Bioinformatics uses genomic (gene sequence) data in a broad range of structure-based drug discovery and design projects leading to the rapid design and identification of small molecule lead compounds. SBI is building corporate partnerships with pharmaceutical companies, gene discovery companies, and combinatorial chemistry companies ranging from broad technology collaborations to drug target-specific lead finding and optimization programs. SBI has major corporate collaborations with Yamanouchi Pharmaceutical Co., Ltd., BioChem Pharma, Inc., and another undisclosed Japanese pharmaceutical company. SOURCE: Structural Bioinformatics Inc.