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Biotech / Medical : 3-DIMENSIONAL PHARMACEUTICALS (DDDP)

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To: Miljenko Zuanic who wrote (45)1/4/2002 9:09:57 AM
From: scaram(o)uche  Read Replies (2) of 146
 
Friday January 4, 8:33 am Eastern Time
Press Release
SOURCE: 3-Dimensional Pharmaceuticals, Inc.
3-Dimensional Pharmaceuticals Announces DiscoverWorks(R) Drug Discovery Alliance With Johnson & Johnson Pharmaceutical Research & Development
YARDLEY, Pa., Jan. 4 /PRNewswire/ -- 3-Dimensional Pharmaceuticals, Inc. (Nasdaq: DDDP - news; 3DP) today announced a drug discovery alliance that will apply 3DP's proprietary technologies to discover and optimize small molecule drug leads directed to genomics targets identified by Johnson & Johnson Pharmaceutical Research & Development, L.L.C.

Under terms of the agreement, 3DP will receive an upfront technology access fee and committed research funding during the research collaboration period. 3DP is also eligible to receive milestone payments and royalties on any sales of resulting products.

3DP (http://www.3dp.com) is an integrated bio-pharmaceuticals company dedicated to revolutionizing small molecule drug discovery and development. 3DP's proprietary platform, DiscoverWorks, can be applied to virtually any potential drug target. It produces drug candidates suitable for faster development, with fewer resources and a higher probability of success than using conventional drug discovery methods. 3DP is developing its own drug pipeline and collaborates with other pharmaceutical companies in discovery and development.

Statements in this press release that are not strictly historical are ``forward-looking'' statements which involve a high degree of risk and uncertainty. Such statements are only predictions, and the actual events of results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, risks associated with our new and uncertain technologies, clinical trials and product development, the long and arduous process of obtaining regulatory approval, our dependence on existing strategic alliances and new collaborations, our dependence on patents and proprietary rights, our ability to protect and enforce our patents and proprietary rights, the development and availability of competitive products or technologies, our ability to attract and retain talented employees and our ability to manage our expansion as a company increasingly focused on internal product research and development.

SOURCE: 3-Dimensional Pharmaceuticals, Inc.
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