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Array and ICOS Establish Drug Discovery Collaboration Exploiting A Novel Chemical Proteomics Platform
BOULDER, Colo., and BOTHELL, Wash., Aug 14, 2001 /PRNewswire/ --
- Collaboration to Discover and Develop Small Molecule Allosteric Regulators of Protein-Protein Interactions -Array BioPharma Inc. (Nasdaq: ARRY) and ICOS Corporation (Nasdaq: ICOS) today announced the signing of a collaboration agreement to discover and develop small molecule drugs directed at two specific disease targets containing the I-domain allosteric site (IDAS) structural motif. IDAS-targeted drugs regulate function of the target proteins through a novel allosteric mechanism. ICOS has identified key structural features of proteins containing the IDAS motif that will be exploited by Array's chemists to systematically produce drugs against targets of this class.
"We believe that this approach could be an efficient route towards break- through drugs across several therapeutic areas," said W. Michael Gallatin, Ph.D., Vice President and Scientific Director, ICOS. "In prior collaborations with ICOS, Array has demonstrated the ability to rapidly identify clinical development candidates using its technology platform. ICOS is pleased to employ Array technology and dedicated personnel on this important ICOS program."
Under the terms of this agreement, ICOS will provide Array with research funding over two years. Array and ICOS scientists will collaborate in all aspects of lead generation and lead optimization. ICOS will be responsible for clinical development and commercialization. Array is entitled to receive success payments upon reaching certain development milestones and royalties based upon sales of products resulting from this collaboration.
"ICOS has discovered a novel regulatory mechanism of protein function with broad implications," said Kevin Koch, Ph.D., President and Chief Scientific Officer, Array BioPharma. "Array has built a broad technology platform in chemical genomics to develop small molecule therapeutics by combining structural biology, medicinal chemistry and chemoinformatics. We are excited about the opportunity to expand our collaborations with ICOS in this new area of drug discovery."
About ICOS Corporation
ICOS Corp. is a product-driven company that has expertise in both protein- based and small molecule therapeutics. ICOS combines capabilities in molecular, cellular and structural biology, high throughput drug screening, medicinal chemistry, and genomics to develop highly innovative products with significant commercial potential. ICOS applies its integrated approach to specific target areas where it has expertise. ICOS believes this strategy increases the chances of successfully developing commercial products. ICOS has advanced clinical trials in sexual dysfunction, severe sepsis, and pulmonary arterial hypertension. For copies of press releases and additional information about ICOS, please visit the company's web site at www.icos.com.
About Array BioPharma
Array BioPharma is a drug discovery company creating new drugs through the integration of chemistry, structural biology and chemoinformatics. Array collaborates with leading pharmaceutical and biotechnology companies to identify novel small-molecule drugs. Array also leverages its discovery platform to develop a pipeline of its own proprietary drug candidates. Array's world-class scientific team has a proven track record of success in identifying promising drug candidates.
For more information on Array BioPharma, please visit the company's web site at www.arraybiopharma.com.
ICOS Safe Harbor Statement
Note: This press release contains forward-looking statements regarding ICOS within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause ICOS' results and the timing of certain events to differ materially from those discussed in the forward-looking statements. Drug development involves a high degree of risk. Success in animal work or early stage clinical trials does not ensure that later stage or larger scale clinical trials will be successful. Factors which could cause actual results to differ materially from ICOS' current expectations include the risk that the product may not show therapeutic effect or an acceptable safety profile in clinical trials or may not meet regulatory standards, or that problems or delays may arise during clinical trials or in the course of the development, testing or manufacturing of the product, or that issues may arise with respect to the intellectual property position of the product, as well as the other risks and uncertainties described from time to time in ICOS' periodic reports filed with the Securities and Exchange Commission. ICOS is providing this information as of August 14, 2001. ICOS undertakes no duty to update any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements or of anticipated or unanticipated events that alter any assumptions underlying such statements.
Array BioPharma Safe Harbor Statement
Note: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties, including those discussed below and described more fully in reports filed by Array with the Securities and Exchange Commission, including Array's final prospectus as filed on November 16, 2000. Because these statements reflect Array's current expectations concerning future events, our actual results could differ materially from those anticipated in these forward-looking statements as a result of many factors. These factors include, but are not limited to, Array's ability to achieve and maintain profitability, the extent to which the pharmaceutical and biotechnology industries are willing to collaborate with third parties on their drug discovery activities, the ability of Array's collaborators and of Array to meet drug discovery objectives tied to milestones and royalties, and Array's ability to attract and retain experienced scientists and management. Array is providing this information as of August 14, 2001. Array undertakes no duty to update any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements or of anticipated or unanticipated events that alter any assumptions underlying such statements.
SOURCE Array BioPharma Inc.; ICOS Corporation