Moderated By: GARY P GROBBEL -- (Not Moderated) -- Started: 1/11/1999 11:45:00 AM Revision History
EPPH/Perkins-Elmer... This press release came out this
morning...stock up .06 to .65 on 28,000 as of 11.15a. Epoch files w/the SEC and
profile avail on Yahoo...52wh .93/52wl .45...do your own DD:
PE Biosystems Enters Into License, Manufacturing
and Supply Agreement With Epoch Pharmaceuticals, Inc.
Epoch's Proprietary Genetic Analysis Technology Increases Efficiency Of Perkin-Elmer
Research
Probes
REDMOND, Wash., Jan. 11 /PRNewswire/ -- Epoch Pharmaceuticals, Inc. (OTC
Bulletin Board: EPPH - news) announced
today that it has licensed certain of its enabling genetic analysis technology to the PE
Biosystems Division of The Perkin-Elmer
Corporation. As part of the agreement, Perkin-Elmer will be purchasing Epoch's
proprietary chemical intermediates. The
license fields are for applications pertaining to Perkin-Elmer's proprietary technology in
the areas of biomedical research and
certain non-clinical applied fields. In addition to the up-front license fees and
pre-payments for future purchases, Epoch shall
receive a royalty on all products that Perkin-Elmer sells which incorporate the
technology.
Epoch has recently discovered that the compounds and techniques that were being
developed for its gene modification
therapeutic program can be broadly enabling and are adaptable to several gene
sequencing analysis systems currently in use or
being developed by others. The Company believes that this technology has significant
commercial applications in the fields of
molecular diagnostics and genomics, including the detection of infectious diseases,
inheritable diseases through prenatal testing,
screening populations to identify genetic markers that correlate with disease risk or drug
response, as well as any other genetic
analysis based on DNA sequence determination.
''This transaction brings outside validation to the technology which has been developed
under the redirected research efforts at
Epoch,'' said Fred Craves, Ph.D., the Chairman and CEO of Epoch. ''We believe this
transaction is a major step in the
turnaround of Epoch into a sustainable R&D and manufacturing company with attractive
growth potential.''
This press release contains forward-looking statements concerning the Company's
research and development activities. Actual
results may differ materially, depending on a number of risk factors. As discussed in the
Company's Securities and Exchange
Commission filings, these risks include the possibility that the potential products utilizing
the Company's technology may at any
time be found to be ineffective or although effective, may be uneconomical to market, or
that third parties hold proprietary
rights that preclude Epoch from marketing them, or that third parties market a superior
or equivalent product. The Company
will need significant additional financial resources to complete its research activities and
there are no assurances that such
resources will be available in a timely or acceptable manner, or at all.
SOURCE: Epoch Pharmaceuticals, Inc.
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