PRINCETON, N.J.--July 17, 2000 -- Pharmacopeia, Inc. (Nasdaq: PCOP) today announced that it has successfully identified active compounds in its Lead Discovery Services program for Roche Bioscience, a member of the Roche Group. As a result of this achievement, Roche Bioscience has made a milestone payment to Pharmacopeia. Financial terms were not disclosed.
Under the terms of this research collaboration, Pharmacopeia screened its large internal sample collection, now numbering more than 3 million diverse, small molecules, against a Roche Bioscience target in the area of neurobiology research. Roche Bioscience has received a license to the active compounds identified by Pharmacopeia. Pharmacopeia remains eligible for future milestone payments and royalties as Roche Bioscience pursues further development of the active compounds.
"We are pleased that we were able to assist Roche Bioscience in its drug discovery efforts," said Joseph A. Mollica, Ph.D., Pharmacopeia’s Chairman, President, and CEO. "The achievement of this milestone again demonstrates the power of the combination of our large internal sample collection and our ultra high-throughput screening technology to discover potential drugs. The target involved in this drug discovery program was challenging and potentially significant in treating human disease. We look forward to benefiting from the continued development of this program at Roche Bioscience and to assisting Roche Bioscience in future drug discovery programs."
"We are pleased to have had the opportunity to screen the Pharmacopeia library as a complement to our own internal drug discovery efforts and have been impressed with the quality of the science," said Ian Massey, head of Neurobiology at Roche Bioscience.
As part of the Roche Pharmaceuticals Research organization, Roche Bioscience is focused on diseases of the central nervous system, inflammation and bone diseases as well as genitourinary diseases. Roche Bioscience has approximately 900 employees located on its campus in Palo Alto, Calif. Headquartered in Basel, Switzerland, Roche is one of the world's leading research-oriented healthcare groups in the fields of pharmaceuticals, diagnostics and vitamins. Roche's innovative services address the prevention, diagnosis and treatment of diseases, thus enhancing people's well-being and quality of life. The Roche PaloAlto website is available at www.roche.com/bioscience.
Pharmacopeia (www.pharmacopeia.com) is a leader in enabling science and technology that accelerates drug discovery and chemical development. Pharmacopeia’s Drug Discovery Services segment integrates proprietary small molecule combinatorial chemistry, high-throughput screening and informatics to accelerate its customers’ drug discovery efforts. Pharmacopeia’s Software segment, which includes MSI (www.msi.com) and Synopsys Scientific Systems (www.synopsys.co.uk) develops and commercializes molecular modeling, simulation and informatics software and services. The drug discovery services and software technologies are integrated to support: 1) software sales and systems integration services for pharmaceutical, biotechnology, and chemical research, and 2) lead identification and optimization for drug discovery. Pharmacopeia employs approximately 550 people, generated 1999 revenues of approximately $104 million, and is headquartered in Princeton, NJ. Regional operations are in San Diego, CA; Burlington, MA; Cambridge, England; Leeds, England; Paris, France; Munich, Germany and Tokyo, Japan.
When used anywhere in this document, the words "expects", "believes", "anticipates", "estimates" and similar expressions are intended to identify forward-looking statements. Pharmacopeia has based these forward-looking statements on its current expectations about future events. Such statements are subject to risks and uncertainties including, but not limited to, the successful implementation of Pharmacopeia's new strategic plan, the acceptance of new products, the obsolescence of existing products, the resolution of existing and potential future patent issues, additional competition, changes in economic conditions, and other risks described in documents Pharmacopeia has filed with the Securities and Exchange Commission, including its most recent report on Form 10-K and subsequent reports on Form 10-Q. All forward-looking statements in this document are qualified entirely by the cautionary statements included in this document and such filings. These risks and uncertainties could cause actual results to differ materially from results expressed or implied by forward-looking statements contained in this document. These forward-looking statements speak only as of the date of this document. Pharmacopeia disclaims any undertaking to publicly update or revise any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
