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|Aptus and Array BioPharma Announce Drug Discovery Collaboration; Small Molecule Drug Discovery Agreement Targets GPCRs|
GAITHERSBURG, Md. and BOULDER, Colo., April 5 /PRNewswire/ -- Aptus Genomics, Inc. (Aptus) and Array BioPharma Inc. (Nasdaq: ARRY) today announced a drug discovery collaboration agreement to create small molecule therapeutics against select G-Protein Coupled Receptor (GPCR) targets.
``We are very pleased to initiate this collaboration with Array BioPharma, a recognized leader in small molecule drug discovery. This collaboration allows Aptus to implement an important element of its strategy, namely, to build a strong drug discovery capability in GPCR-based therapeutics,'' said Krystyna Belendiuk, Ph.D., President, Aptus.
Under the terms of the agreement, Aptus will use its proprietary AptuScreen technology to screen Array's Lead Generation Libraries, on a non- exclusive basis. Array will work exclusively with Aptus on a select number of GPCR targets and will provide Aptus access to its Lead Generation Libraries in exchange for common stock in Aptus. Array will use the Array Discovery Platform to optimize leads resulting from the collaboration, and will receive research funding and be entitled to milestones and royalties based on development and commercial success. In addition, Array will have the option to jointly fund, develop and own a limited number of leads identified by this collaboration. Other terms were not disclosed.
``Aptus's unique GPCR screening technology coupled with the Array Discovery Platform has the potential to create valuable preclinical candidates across a number of important therapeutic areas,'' said David L. Snitman, Ph.D., Chief Operating Officer and Vice President, Business Development, Array BioPharma.
G-protein coupled receptors (GPCRs) are targets for drugs that treat most major diseases, including cardiovascular, respiratory, gastrointestinal, neurological, psychiatric and endocrinological disorders. GPCR-targeted drugs accounted for approximately $60 billion in U.S. sales in 2000. However, approximately 200 of the 400 non-olfactory GPCRs still have no known function. Therefore, this receptor class offers ample opportunities for the elucidation of GPCR function and for the discovery of novel pharmaceuticals to treat important diseases.
About Aptus Genomics, Inc.:
Aptus is a drug discovery company that uses its proprietary technologies to develop therapeutics targeting G-Protein Coupled Receptors (GPCRs). Its leading technology is AptuScreen, a highly sensitive, cost-effective, homogeneous assay that directly measures cyclic AMP (cAMP) formation resulting from ligand-receptor binding. Aptus is using AptuScreen in its own drug discovery efforts as well as licensing rights to use of the technology to pharmaceutical and biotechnology companies. For more information on Aptus, please visit its web site at http://www.aptusgenomics.com .
About Array BioPharma Inc.:
Array BioPharma is a drug discovery company inventing new small molecule drugs through the integration of chemistry, biology and informatics. Its experienced scientists use the Company's integrated set of drug discovery technologies, called the Array Discovery Platform, to invent novel small molecules in collaboration with leading pharmaceutical and biotechnology companies and to build its own pipeline of proprietary drug candidates. For more information on Array BioPharma, please visit its web site at http://www.arraybiopharma.com .
Array Forward-Looking Statement:
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 our Final Prospectus filed on February 12, 2002. Because these statements reflect our 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, our 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 our collaborators and of Array to meet drug discovery objectives tied to milestones and royalties, and our ability to attract and retain experienced scientists and management. We are providing this information as of April 5, 2002. We undertake 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.