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Biotech / Medical : Ionis Pharmaceuticals (IONS) -- Ignore unavailable to you. Want to Upgrade?

To: Scott H. Davis who wrote (2511)	3/5/1999 8:57:00 AM
From: jopawa	Read Replies (1) \| Respond to of 4676

Interesting, I guess.... Thursday March 4, 5:06 pm Eastern Time Company Press Release SOURCE: Isis Pharmaceuticals, Inc. Ibis Therapeutics, a Division of Isis Pharmaceuticals, Receives $6.6 Million Defense Department Grant to Discover Biological Warfare Drug Countermeasures Three-year Grant Teams Ibis with High Tech Innovator, HNC Software CARLSBAD, Calif., March 4 /PRNewswire/ -- Isis Pharmaceuticals, Inc. (Nasdaq: ISIP - news), today announced that its Ibis Therapeutics program was awarded a $6.6 million three-year grant from the Defense Advanced Research Projects Agency (DARPA). Ibis Therapeutics is teaming up with San Diego-based HNC Software Inc. (Nasdaq: HNCS - news), to develop broad ranging countermeasures for biological warfare defense. The Ibis/HNC Advanced Technologies Solutions team plans to integrate HNC's Context Vector(TM) technology and Ibis' expertise in RNA structure and function to develop a new technology to identify molecular targets for drug discovery directly from genomic sequence data. Ibis will then use this target information to design small molecule drugs that bind to these unique RNA targets. This grant builds upon the work that Isis conducted under its first DARPA award received in 1997. This work focused on developing a strategy to identify common binding sites to a wide range of bacteria in order to develop small molecules to combat bacterial pathogens. This work has yielded a number of proprietary targets and significant advances in the design of RNA-targeted drugs. Through its Ibis program, Isis is discovering small molecule drugs that bind to RNA targets. As a drug target, RNA is unique in that it is critical to the life cycle of pathogens and is an excellent binding site for small molecules. The initial focus of the Ibis program is broad-spectrum antibacterial drugs. HNC Software Inc. is a world leader in the development and delivery of Predictive Software Solutions in client/server environments. The company has developed a pattern recognition system called Context Vector(TM) technology used for content-based retrieval, and summarization of text that they have adapted to recognize critical RNA structures directly from genomic sequence data. ''We are pleased to receive this grant from DARPA in recognition of the important advances we have made in RNA-based antibacterial drug discovery, and in support of new computational approaches to exploring RNA as a target for developing effective antibacterial drugs,'' said David Ecker, Managing Director of Ibis. ''The combination of Ibis' and HNC's innovative approaches to drug design may enable us to use genomic sequence data to more rapidly and efficiently discover drugs than is possible with more traditional target identification and validation procedures.'' Isis Pharmaceuticals, based in northern San Diego County, is engaged in the discovery and development of novel human therapeutic compounds. Isis has six compounds in human clinical trials: Vitravene(TM) (fomivirsen), to treat CMV-induced retinitis in AIDS patients, has been approved for marketing by the FDA and is currently undergoing regulatory review in Europe; ISIS 2302, an inhibitor of ICAM-1, is in a pivotal quality trial for Crohn's disease, Phase II clinical trials for renal transplant rejection, and ulcerative colitis, and is being explored as a topical administration for psoriasis and an aerosol administration for asthma; ISIS 3521 is in Phase II trials as a treatment for cancer; ISIS 5132 is in Phase II clinical trials as a treatment for cancer; ISIS 2503 is in Phase I trials as a treatment for cancer; and ISIS 13312 is in Phase I/II clinical trials for the treatment of CMV retinitis in AIDS patients. The company also has several additional compounds in preclinical development. Isis' broad medicinal chemistry and biology research programs support efforts in both antisense and small molecule drug discovery. This press release contains forward-looking statements concerning the therapeutic and commercial potential of Isis' small molecule drug discovery technology and HNC's proprietary identification systems. Such statements are subject to certain risks and uncertainties, particularly those inherent in the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics. Actual results could differ materially from those projected in this release. As a result, the reader is cautioned not to rely on these forward-looking statements. These and other risks concerning drug discovery are described in additional detail in Isis' Annual Report on Form 10-K for the year ended December 31, 1997 which is on file with the U.S. Securities Exchange Commission, copies of which are available from the company. Founded in 1986 and headquartered in San Diego, California, HNC Software Inc. is a world leader in the development and delivery of Predictive Software Solutions in client/server environments. HNC's business units, HNC Financial Solutions, HNC Insurance Solutions, HNC Telecommunications Solutions, HNC Aptex Internet Solutions and HNC Retek Retail Solutions, provide innovative predictive software systems in their respective industries. Context Vector(TM) technology is a trademark of HNC Software. Vitravene(TM) is a trademark of Novartis AG. SOURCE: Isis Pharmaceuticals, Inc.