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Biotech / Medical : SIBIA Neurosciences (SIBI) -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (313)	4/14/1999 8:27:00 AM
From: scaram(o)uche	Respond to of 579

This should about do it..... not a partner, no collaboration in sight to my knowledge..... opens the floodgates? Congratulations, Comer et al....... Wednesday April 14, 8:02 am Eastern Time Company Press Release SOURCE: SIBIA Neurosciences, Inc. SIBIA Neurosciences, Inc. Announces License of Patented Transcription Based Assay Technology to SmithKline Beecham LA JOLLA, Calif., April 14 /PRNewswire/ -- SIBIA Neurosciences, Inc. (Nasdaq: SIBI - news) today announced that it has entered into a non-exclusive license agreement with SmithKline Beecham for U.S. patent 5,401,629 ('629) and additional patents. The patented technology covers a drug screening method called a transcription-based assay (TBA), a functional cell-based assay which provides an indirect measure of the activity of certain cell surface molecules. This functional cell-based assay enables the identification of active compounds from large collections of compounds. SIBIA will receive annual maintenance payments for use of the technology and royalty payments if compounds discovered as a result of this technology lead to commercial products. ''We are pleased that SmithKline Beecham is the second large pharmaceutical company to obtain a license from SIBIA under the '629 patent in the past several weeks,'' said Stephen F. Keane, SIBIA's Vice President of Corporate Development. ''We are currently in negotiations with a number of other companies for licenses to this patented technology and anticipate that such licenses will generate additional revenue for SIBIA.'' SIBIA Neurosciences, Inc. is engaged in the discovery and development of novel small molecule therapeutics for the treatment of neurodegenerative, neuropsychiatric and neurological disorders, many of which have large patient populations and represent critical unmet medical needs. SIBIA is a leader in the development of proprietary drug discovery platforms that combine key tools necessary for modern drug discovery, including genomics, high throughput screening, advanced combinatorial chemistry techniques and pharmacology. The Company's proprietary molecular targets and drug candidates, together with its drug discovery technologies and research expertise, have enabled the Company to establish several corporate collaborations, which currently include Bristol-Myers Squibb Company and Meiji Seika Kaisha, Ltd., and multiple technology licensing arrangements. This press release contains forward-looking statements that involve risks and uncertainties. Actual results could differ materially from those discussed herein. These risks and uncertainties include risks and uncertainties regarding the Company's ongoing litigation with Cadus, including uncertainties regarding appeals and related proceedings, risks and uncertainties regarding the Company's patents, risks relating to SIBIA's ability to enter into additional '629 patent licenses or generate substantial licensing revenue from its '629 patent or other technologies, the risk that license revenue could be significantly reduced as a result of future developments relating to the Cadus litigation, whether SIBIA will be able to meet its development goals, the new and uncertain state of SIBIA's technologies, SIBIA's future capital needs and the uncertainty of receiving additional funding, and other research, development and market risks. These and other risks and uncertainties are more fully set forth in SIBIA's most recently filed Forms 10-Q and 10-K. SOURCE: SIBIA Neurosciences, Inc.