 |
|
 |
 |
 |
|
|
BEYOND GENOMICS AND DIADEXUS ENTER RESEARCH AND LICENSE AGREEMENT TO IDENTIFY AND DEVELOP CANCER BIOMARKERS AND DRUG TARGETS Waltham, MA and South San Francisco, CA - February 19, 2002 - Beyond Genomics, Inc. and diaDexus, Inc., today announced that they have entered into an agreement to apply Beyond Genomics' Systems Biology approach to diaDexus' cancer diagnostic and drug discovery research. The planned research program will seek to identify new biomarkers and drug targets useful for the diagnosis and treatment of colon, breast and ovarian cancer. Under the terms of the agreement, diaDexus made an equity investment in Beyond Genomics and will provide research funding for the program. The agreement also provides for milestone and royalty payments on products resulting from the research. Additional financial and deal terms were not disclosed. The research agreement calls for Beyond Genomics to analyze normal and cancerous samples using a combination of high-throughput, next-generation proteomic technologies to identify and characterize new cancer targets. diaDexus will provide certain genomic analyses related to these new targets. Beyond Genomics will also use proprietary pattern recognition, clustering and data mining software (BioSystematicsTM) to integrate and analyze all relevant data to generate new insights into the mechanisms of these cancers, leading to new diagnostic and therapeutic product opportunities. "We are pleased to be working with diaDexus. This agreement gives Beyond Genomics the opportunity to bring its uniquely powerful Systems Biology discovery platform to yet another major therapeutic area - cancer," said N. Stephen Ober, MD, President of Beyond Genomics. "Our work with other diseases indicates that our proprietary approach can lead to novel findings very quickly." In April 2001, Beyond Genomics entered into a strategic alliance focused on Alzheimer's disease; the company also initiated its own research in atherosclerosis late last year. "This collaboration moves diaDexus beyond genomics into protein expression profiling with a focus on identifying lead targets for development of diagnostic and therapeutic products for cancer," said Ronald M. Lindsay, Vice President, Research and Development and Chief Science Officer of diaDexus. "We believe that Beyond Genomics' unique platform for protein expression profiling complements our genomic profiling techniques, and has the potential to identify, directly at the protein level, new markers and targets that may ultimately lead to earlier diagnosis and better treatment of major cancers." According to the National Cancer Institute, there are approximately 350,000 new cases of colon, breast and ovarian cancer annually in the U.S. It is estimated that over 100,000 deaths will be caused by these diseases in 2002. Beyond Genomics is the first company to apply a Systems Biology approach to drug discovery and biomarker identification. By rapidly analyzing clinically relevant samples and integrating data at the gene, protein, and metabolite levels, the Company goes beyond genomics to provide new insights into the molecular mechanisms of health and disease. Beyond Genomics performs its disease-specific research independently or in partnership with pharmaceutical and biotechnology companies, leveraging its Systems Biology platform across a portfolio of applications in therapeutic drug discovery, product development and diagnostics. Last week, the Company announced the completion of an $11 million round of equity financing, bringing to $21 million the total equity financing raised to date. The Company was co-founded by a unit of Flagship Ventures, based in Cambridge, MA. For more information visit www.beyondgenomics.com. diaDexus, based in South San Francisco, California, is focused on the discovery, development and commercialization of novel, patent protected diagnostic and therapeutic products with high clinical value. diaDexus has utilized genomics and bioinformatics to identify thousands of disease-associated molecular targets. Currently, diaDexus has three diagnostic product candidates in late-stage pre-clinical development. For more information, please visit www.diaDexus.com. The statements in this press release which are not historical facts or information may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different from the outcome described in these forward-looking statements. |
|
|
|
