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Biotech / Medical : Cadus Pharmaceutical Corp. (KDUS) -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (18)	8/3/1999 3:43:00 PM
From: scaram(o)uche	Read Replies (2) \| Respond to of 1833

Tuesday August 3, 12:22 pm Eastern Time Company Press Release Axiom Biotechnologies Inc. And Oxford Molecular Group Complete Development Of Cell Profiling Informatics Platform -- Profiler '99 SAN DIEGO--(BW HealthWire)--Aug. 3, 1999--Axiom Biotechnologies Inc. and Oxford Molecular Group (LSE:OMG), announced today that they have completed co-development of Axiom's proprietary Profiler '99 Cell BioInformatics Solution. Profiler '99 offers a simple vehicle for integrating detailed compound registration, inventory, assay management, plate manipulation, administration and comprehensive cell map querying features. ''The Profiler '99 takes advantage of advances Axiom has made in both cell profiling and high speed automation to rapidly create databases of cell profiles for comprehensive secondary assay applications,'' said Pandi Veerapandian, Ph.D., Axiom's president and chairman. ''We have been extremely pleased with Oxford Molecular's contributions to the development of Profiler '99 as we continue to create tools for the pharmaceutical and biotechnology industry that can improve drug discovery efficiency by leveraging cell-based assays.'' Specifically, Profiler '99 is an ORACLE 8.0.5 compatible portfolio of integrated informatics tools capable of automated data acquisition, management and biomining, in a user-friendly data visualization environment and is designed to be compatible with cell-based assay systems, such as Axiom's HT-PS platform. Profiler '99 leverages cell based information by offering user-friendly visualization tools that display data sets for primary screens, potency profiles and specificity profiles, as well as giving ready access to all experimental parameters and cell phenotype data. Additionally, the Profiler '99 platform provides simple and complex pharmacology analyses in transparent automated formats. These analyses include fully automated dose-response profiling, algorithmic curve-fitting comparisons, EC50 and IC50 calculations, comprehensive statistical analysis and full Schild analyses, including calculation of functional Ki and Kd values. Profiler '99 also provides for compound searching and analyses based on functional properties of compounds on cells. All such data can be directly exported to Oxford Molecular's DIVA or Tsar for subsequent structure-activity analyses. Exploiting such biomining tools the scientists can come up with common pharmacophores based on functionally validated hits, to expedite the creation of validated leads. ''Oxford Molecular is very pleased to work with Axiom to apply the OMG suite of informatics tools to create a powerful Cell Based Bioformatics Solution,'' said Charles Nalbantian, president and COO. ''It is clear that as cell-based approaches continue to gain importance in drug discovery such tools will be critical to taking advantage of the valuable and complex data sets generated.'' Oxford Molecular is a leading provider of discovery and software solutions to the life sciences market. The company seeks to deliver excellence in all its products and services and to help its customers benefit from the synergy that is created from the integration of state-of-the-art chemistry, biology and information technology infrastructure. The Discovery Solutions Division offers discovery research through collaboration, by providing world-class innovative technologies in chemistry and biology which intimately match customer needs and add value to their research programs. The Software Solutions Division supplies enterprise-wide information technology solutions for research across the entire drug discovery process. Innovative and superior products target customer needs for excellence in each area of discovery research; and together they form integrated solutions that add value to the flow of information through the customer's research process. The Company has its headquarters in Oxford, England and has operations throughout the USA as well as sales offices and agents around the world. Axiom Biotechnologies is a privately-held biotechnology company focused on improving the efficiency of drug discovery by accelerating the process of evolving screening 'hits' to pre-clinical leads by applying an array of proprietary 'hits'-to-leads technologies and assays. The company's patented flagship technology, the High Throughput Pharmacology System (HT-PS(TM)), combines proprietary natural cell-based assays, high throughput automated instrumentation and novel pharmacoinformatics and biomining tools to assess and prioritize potential lead compounds based on their functional pharmacological properties. Through collaborations with major pharmaceutical companies, Axiom is committed to becoming the pharmaceutical industry's partner of choice in high throughput pharmacology. Contact: Axiom Biotechnologies Jim Linton, Ph.D., 619/455-4509 or Oxford Molecular Group Inc. Anthony D. Grass, 201/529-3323

To: scaram(o)uche who wrote (18)	8/3/1999 3:44:00 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 1833

Tuesday August 3, 8:51 am Eastern Time Company Press Release Cadus Announces Sale of Drug Discovery Assets TARRYTOWN, N.Y.--(BUSINESS WIRE)--Aug. 3, 1999--Cadus Pharmaceutical Corporation (NASDAQ: KDUS - news) announced today that it sold to OSI Pharmaceuticals, Inc. (NASDAQ: OSIP - news) its drug discovery programs focused on G protein-coupled receptors, its directed library of approximately 150,000 small molecule compounds specifically designed for drug discovery in the G protein-coupled receptor arena, its collaboration with Solvay Pharmaceuticals B.V., its lease to its research facility in Tarrytown, New York together with the furniture and fixtures and its lease to equipment in the facility, and its inventory of laboratory supplies. OSI also agreed to employ more than 45 of Cadus's scientific and administrative personnel. Cadus received approximately $1,500,000 in cash and OSI assumed certain liabilities of Cadus as consideration for the sale. In addition, Cadus would be entitled to royalties and up to $3.0 million in milestone payments on the first product derived from compounds sold to OSI or from the collaboration with Solvay Pharmaceuticals B.V. Cadus will retain ownership of all its other assets, including its core yeast technology for developing drug discovery assays, its collection of over 25,000 proprietary yeast strains, human and mammalian cell lines, and genetic engineering tools, its program to identify and isolate human orphan G protein-coupled receptors and elucidate their function, its proprietary software, its genomics databases related to G protein-coupled receptors, the LivingChip(TM) program, all assays and technologies reverting to Cadus from its collaboration with Bristol-Myers Squibb Company, a 30% equity position in Axiom Biotechnologies Inc., the company's current cash and cash equivalents, and the approximately $18.7 million being held in escrow pending appeal of the verdict in favor of SIBIA Neurosciences, Inc. (''SIBIA''). Cadus will cease its drug discovery operations and research efforts for collaborators as a result of the transaction. OSI will assist Cadus in winding up its research efforts on behalf of SmithKline Beecham Corporation. Consequently, Cadus has terminated all employees who were not hired by OSI, except for two officers and four transitional employees. Cadus's Board of Directors intends to continue to seek to realize value from the company's assets. This press release may contain 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 ongoing litigation with SIBIA, including uncertainties regarding the outcome of appeals and the re-examination of SIBIA's patent at issue in the litigation, risks and uncertainties relating to the company's ability to realize value from its assets, technological uncertainties regarding the company's technology, rapid technological change, an intensely competitive market, intellectual property rights, and general economic conditions. This release is available at Cadus's Home Page (www.cadus.com). Contact: Cadus Pharmaceutical Corporation, Tarrytown Charles Woler, M.D., Ph.D. President and Chief Executive Officer Telephone: 914/467-6222 E-Mail: Charles.Woler@cadus.com