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   Biotech / MedicalTrega Biosciences (TRGA), formerly HPIP


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To: E.J. Neitz Jr who started this subject10/20/2000 4:23:45 PM
From: bob zagorin
   of 152
 
Stock-rich biotechs hit the takeover trail
Oct 20, 2000 07:32 AM ET

By Jeff Shuttleworth, LocalBusiness.com

NEWS ANALYSIS SAN FRANCISCO, Oct. 20 (LocalBusiness.com) -- After years of watching the pharmaceutical giants play the lead role of rich suitor in scooping up small firms with promising products, burgeoning biotech companies now are vying for the part too.

Using their hot stocks and deep pockets, large biotech companies are finding the fastest way to add new products is to buy smaller firms.

The limelight shed on genomic research has pushed some biotech stock prices into the stratosphere. Research shows three years ago there were only nine biotech companies with market caps above $1 billion. Now there are at least 60. And some smaller companies are more than willing to exchange their independence for a piece of equity in the new breed of big players.

Industry watchers say the biotech takeover trend is just beginning.

"We'll see more consolidation," said Steven Burrill, chief executive officer of San Francisco-based Burrill & Co., a private merchant bank that runs several biotech investment funds.

Sign of maturity
Scott Greer, the CEO of Abgenix Inc. in Fremont, Calif., has seen the stock for his company rise more than 4,500 percent over two years. He said the consolidation trend shows that the maturing biotech industry is no longer a backwater dominated by scientists doing difficult-to-understand research.

"Historically, there haven't been a lot of mergers and acquisitions in the biotech world, but as the industry is becoming more of a business, there will be," Greer said.

His company's XenoMouse technology enables drug makers to grow mice with human antibodies. These antibodies can be used on humans, without being attacked as a foreign substance.

Greer said acquisitions help biotech firms develop a more complete package of products.

"There are lot of small toolbox companies (firms that decipher data useful in developing drugs) that have one piece of the overall picture and would make a good fit with someone else," Greer said.

An example is Abgenix's Sept. 26 all-stock acquisition of ImmGenics Inc., a privately held company based in Vancouver, British Columbia, which developed a proprietary technology to increase the effectiveness and speed of antibody product discovery efforts.

"They have a technology that works well with wild mice, but they're missing a key part of the business because they need human antibodies," Greer said.

Biotech deals have dotted the country in recent months. Amgen Inc. (Nasdaq: AMGN) of Thousand Oaks, Calif., announced on Oct. 16 a $170 million all-stock deal to purchase Kinetix Pharmaceuticals Inc., a privately held biotechnology company in Medford, Mass., that is developing drugs using cell communication proteins called kinases. Amgen had the first $1 billion biotechnology drug, Epogen, for the treatment of anemia.

On the same day, Seattle-based Corixa Corp. (Nasdaq: CRXA) bought South San Francisco, Calif.-based Coulter Pharmaceutical Inc. (Nasdaq: CLTR) for $900 million. On Oct. 12, Alliance Pharmaceutical Corp. (Nasdaq: ALLP) acquired Molecular Biosystems Inc. (OTC: MBIO) for $12 million. Alliance and Molecular are both based in San Diego, Calif. Both deals were all-stock transactions.

On Sept. 11, Cambridge, Mass.-based Genzyme General Corp. (Nasdaq: GENZ) said it would buy gastrointestinal drug maker GelTex Pharmaceuticals Inc. (Nasdaq: GELX) of Waltham, Mass., for $1 billion in cash and stock. The transaction is expected to close in December, pending regulatory and GelTex shareholder approval.

The match game
Michael Becker, biotech analyst for Chicago-based Wayne Hummer Investments, said biotech firms looking for marketable products must find companies with products nearly ready for market, rather than those still early in the research process.

"It's actually not difficult to find merger candidates," Becker said. "There are a record number of products in clinical human trials today. You can almost go to the U.S. Food and Drug Administration Website and look for companies with products in late-stage trails."

For a merger to be productive, however, the two companies must share a common focus. A cancer treatment company would not be interested in a new kidney dialysis treatment process, for example.

"If an emerging company has a product but no sales force or market presence, they'll want to partner or merge with a larger company that already has a sales force in place," Becker said. "It's typically a rewarding relationship for both; it expedites a product to market and builds on shareholder value through new product sales."

The rise of biotech buying
Only last year, big pharmaceutical companies were the major acquirers of biotech companies. But U.S. Bancorp Piper Jaffray analyst Peter Ginsberg said in a report that biotech companies were the buyers in all 13 deals valued at $100 million or more this year. Of 16 deals of the same size last year, eight acquirers were biotechs and eight were large drug makers, he said.

Biotech companies are in better position now because their stocks have significantly outperformed the broader market, Ginsberg said. The AMEX Biotech Index soared 306 percent between June 1, 1999, and Aug. 25, 2000, while the S&P 500 only rose 23 percent and the AMEX Pharmaceutical Index inched up by 2 percent in the same period.

Big biotech companies now have the upper hand in competing with pharmaceutical companies to acquire smaller biotechs, Burrill said.

"The stock of big biotech companies is a currency that's attractive to smaller companies because there's more upside with that than the stock of pharmaceutical companies," he said. Also, there's more "cultural similarity" when biotech companies merge than when a stodgy pharmaceutical company takes over an innovative biotech outfit. Typically the cost of assimilation is less too, Burrill said.

Greer said there are several types of biotech-biotech acquisitions. Some companies buy companies to customize drug-discovery tools. Others snap up companies with technology "of sufficient strategic importance that you want to own it and control it."

Alliance CEO Duane Roth has a different view. "I wouldn't say this is a trend," Roth said. "It has been happening over the years where you'll see mergers between companies resulting in the shareholder getting more value, or a larger platform."

The question is whether a merger will make the acquiring company stronger, he said. "In our case, acquiring a smaller company like Molecular Biosystems was good for us because we'll be picking up product, and it gives us a chance to get a second product on the market."

But Greer believes the industry is different now because of the completion of the mapping of the human genome. Previously pharmaceutical targets were scarce, and many companies were working around the same targets. Now the problem is reversed: There are too many targets because of the explosion of new information.

"This is a time when the biotech industry is changing fundamentally and the rules are very different than a year ago," Greer said.

LocalBusiness.com reporters Donna Balancia, James Heckman and Lori Valigra contributed to this story.

Jeff Shuttleworth is a staff writer for LocalBusiness.com's San Francisco site. E-mail him with story ideas or comments.

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To: E.J. Neitz Jr who started this subject10/26/2000 12:10:36 PM
From: bob zagorin
   of 152
 
Shift to In Silico Methods for Drug Discovery Highlighted at Largest WorldwideGathering of Pharmaceutical Scientists

- Trega Biosciences Showcases the iDEA(TM) Simulation System to Predict Key Elements of Bioavailability in Drug Candidates -

SAN DIEGO, Oct. 26 /PRNewswire/ -- The trend towards in silico (computer-based) design and selection of new molecules to improve the efficiency and reduce the cost of drug discovery and development will be a major theme at the American Association of Pharmaceutical Scientists (AAPS) meeting in Indianapolis from October 29 - November 2. At the largest annual gathering of pharmaceutical scientists in the world, Trega Biosciences, Inc. (Nasdaq: TRGA), the innovator in modeling systems to simulate how drug candidates will be processed in the body, is presenting data on its absorption model, and "sneak previewing" the capability of its second model to predict metabolism. Absorption and metabolism are the first two modules of Trega's iDEA(TM) Predictive ADME (absorption, distribution, metabolism and excretion) Simulation System.

"We are witnessing a paradigm shift in the pharmaceutical industry concerning the process of making smart decisions about which drugs to develop, and more and more software is becoming available to discovery scientists to enable such decisions earlier in the process," said Patrick Sinko, Ph.D. Dr. Sinko, Trega's Chief Scientist of Discovery Technologies, and Professor and Chairman, Department of Pharmaceutics, College of Pharmacy, Rutgers University, is a featured speaker at the AAPS Symposium on "Enabling Technologies for Ensuring Developability."

Dr. Sinko added: "Much of the estimated cost of $650 million to get a drug to market is not for developing the one successful drug, but for the 90+% of drugs that will fail prior to getting to market. Perhaps the most exciting area, therefore, is in ADME simulation, because an understanding of the bioavailability of a drug in humans is so critical to its downstream success in the clinic. The Trega iDEA(TM) Simulation System, for example, offers a tremendous amount of leverage because it can be applied so early in the discovery process. Trega's initial iDEA(TM) absorption module is designed to enable a scientist to use in vitro data to predict drug impact in humans.

Trega's Chemical Structure Based Model

Dr. Carleton Sage, Senior Computational Scientist, of Trega Biosciences, et.al., will present a poster on "In silico prediction of Caco-2 permeability from molecular structure" (see schedule attached). Caco-2 is an established in vitro method for estimating permeability and an input to the iDEA(TM) absorption module. Trega set out to show that if Caco-2 permeability could be predicted using molecular structure, then human absorption properties could be incorporated much earlier in the drug discovery process, thereby eliminating wasteful and expensive testing of poorly absorbed compounds. After generating data on 230 drugs, both marketed and failed, Trega constructed a number of models, the best of which accurately predicts Caco-2 permeability based solely on molecular structure as in input. The experiment validates the premise that synthesis or experimentation may not be necessary first steps to understanding absorption characteristics of compounds.

"Currently, Trega is demonstrating the ability to go from structural data to predict the in vitro outcome. Thus, for the first time ever, the next generation of Trega's absorption model will provide the research scientist with a design continuum that goes directly and reliably from the molecular structure of a drug on the computer screen to a prediction of the bioavailability of that drug on humans," Dr. Sinko concluded.

Trega iDEA(TM) Simulation System Validated

Dr. Glen Leesman, Principal Scientist, of Trega will be presenting data that further validates the premise that Trega's absorption model accurately predicts drug absorption when applied in a "real-world" pharmaceutical research setting. The accuracy of the model had initially been demonstrated using data provided by a consortium of pharmaceutical companies. The rate and extent of absorption of eight additional drugs, provided by F. Hoffmann LaRoche for this experiment, were then evaluated. The selected drugs had diverse chemical and physical properties and were provided for evaluation with molecular weight as the only form of identity. The Trega model accurately predicted the relevant biopharmaceutical outcomes for all eight drugs. Dr. Leesman's, et. al., poster is entitled, "Assessment of the physiologically-based iDEA(TM) predictive model using an external (blinded) data set" (see schedule attached).

"Consistent with our modular design strategy, our scientists have developed the next generation model that uses chemical structure to predict Caco-2 permeability. This feature is particularly applicable in early discovery for in silico screening of large numbers of compounds and significantly expands the scope of solutions that can be addressed by predictive modeling," said Michael G. Grey, Trega's President and CEO. "Furthermore, external researchers have validated the utility and reliability of the commercially available physiologically-based iDEA(TM) absorption model."

Sneak Preview of iDEA(TM) Module to Simulate Metabolism

Trega is developing a predictive model to simulate how a compound is metabolized in the human body and plans to preview elements of the model during the conference (see schedule attached). The metabolism model is being developed using in vitro data and human pharmacokinetic data to build predictive relationships. The data required for this model includes the output from the iDEA(TM) absorption module and data generated by performing an in vitro hepatocyte assay in the laboratory. The model then predicts the amount of drug that passes through the liver unchanged.

"The development of our metabolism model is representative of our strategy of developing each module with collaborators in pharmaceutical companies. As we recently announced, Janssen Research Foundation and The R.W. Johnson Pharmaceutical Research Institute, members of the Johnson & Johnson family of companies, will collaborate with Trega to further enhance the predictive capabilities of iDEA(TM) predictive model," continued Mr. Grey. "We intend to complete development of the metabolism module by the end of this year with the next release of the iDEA(TM) Simulation System. Trega plans to enable the comprehensive in silico prediction of bioavailability with a suite of modules to simulate absorption, metabolism, distribution and excretion."

Trega Biosciences, Inc. is a premier provider of products that accelerate and improve drug discovery through its iDiscovery(TM) technologies linking biology and chemistry with information technologies. Trega's iDEA(TM) Predictive ADME Simulation System of information-based models simulate, in silico, how drug candidates will be processed in the body, thereby enabling selection of those with optimal characteristics for clinical development. Together with its iDEA(TM) products, Trega's Chem.Folio(R) libraries of information-enhanced small molecules are designed to facilitate the identification and optimization of drug candidates. For additional information on Trega, please visit our Web site at trega.com.

Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including whether further iDEA(TM) predictive models can be successfully developed and commercialized, the impact of competitive products and pricing, whether any corporate collaborations or alliances will be agreed to, expanded or successful, and other risks detailed from time to time in Trega's Securities and Exchange Commission filings. These forward-looking statements represent Trega's judgment as of the date of this release. Actual results may differ materially from those projected. Trega disclaims, however, any intent or obligation to update these forward-looking statements.

Trega Activities at the AAPS

Monday, October 30, 2000

12:00 - 5:30 PM 10' Exhibit booth at AAPS 2000 Exposition

12:00 - 5:30 PM iDEA(TM) absorption module demo in Room MR-1 on the

exhibit floor

1:00 - 2:30 PM Media demo of iDEA(TM) Simulation System in Room MR-1

Tuesday, October 31, 2000

9:30 AM - 5:30 PM 10' Exhibit booth at AAPS 2000 Exposition

9:30 AM - 5:30 PM iDEA(TM) absorption module demo in Room MR-1 on the

exhibit floor

9:30 AM - 12:30 PM Poster: "Utility of a 24-Well Format of Caco-2

Monolayer for Absorption Screening and Prediction"

By YongHee Lee, Ph.D.

Poster: "Comparison of the Permeability

Characteristics of BCS Compounds in Various

Intestinal Regions of Rabbit and Caco-2 Models"

By KyoungJin Lee, Ph.D.

Poster: "In Silico Prediction of Caco-2 Permeability

from Molecular Structure" By Carleton Sage, Ph.D.

4:15 - 5:00 PM Patrick Sinko, Ph.D. -- Presentation "Acquiring and

Applying Screens of ADME Properties to the Selection

of Drug Candidates" as part of "Enabling Technologies

for Ensuring Developability" Symposium from

1:30 - 5:00 PM

Wednesday, November 1, 2000

9:30 AM - 4:30 PM 10' Exhibit booth at AAPS 2000 Exposition

9:30 AM - 4:30 PM iDEA(TM) absorption module demo in Room MR-1 on the

exhibit floor

1:30 - 4:30 PM Poster: "Development and Validation of the

Physiologically Based iDEA(TM) Predictive Model"

By Gregg Timony, MS

Poster: "Methods and Metrics for the Comprehensive

Comparison of Absorption vs. Time Curves"

By Dan Norris, Ph.D.

Poster: "Assessment of the Physiologically-based

iDEA(TM) Predictive Model Using an External (Blinded)

Data Set" By Glen Leesman, Ph.D.

SOURCE Trega Biosciences, Inc.

CO: Trega Biosciences, Inc.; American Association of Pharmaceutical Scientists

ST: California, Indiana

IN: MTC

SU: TDS

10/26/2000 08:03 EDT prnewswire.com

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To: E.J. Neitz Jr who started this subject11/9/2000 10:44:16 AM
From: bob zagorin
   of 152
 
Trega Biosciences Reports Third-Quarter 2000 Results

- Third Quarter Highlighted by iDEA (TM) License to Johnson & Johnson Companies -

SAN DIEGO, Nov. 9 /PRNewswire/ -- Trega Biosciences, Inc. (Nasdaq: TRGA), focused on commercializing technologies and products for accelerating drug discovery and development, today announced financial results for the third quarter ended September 30, 2000. Revenues for the third quarter were $3.4 million, compared with revenues of $2.0 million for the previous quarter. Revenues for the third quarter 1999 were $4.0 million, which included one-time payments from members of the consortium of companies with whom Trega collaborated for the development of the initial version of the iDEA (TM) Predictive ADME Simulation System for absorption. Revenues from the sale of chemical compounds for the third quarter were $2.5 million, compared with $2.8 million in the third quarter of 1999.

The net loss for the third quarter of 2000 was $4.1 million, or $0.18 per share, compared with a net loss of $2.3 million, or $0.13 per share, in the comparable period in 1999. Expenses for the quarter increased approximately $1.0 million over the prior year due primarily to transactions related to the manufacture of compounds for a single customer and software licenses purchased to support the enterprise version of Trega's iDEA (TM) Predictive ADME Simulation System. These expenses are not expected to continue in future quarters.

Revenues for the nine months ended September 30, 2000 were $8.0 million compared with revenues of $8.8 million for the same period last year. The net loss for the nine months was $11.6 million, or $0.53 per share, compared with $8.5 million, or $0.47 per share, for the nine months ended September 30, 1999. Trega ended the third quarter of 2000 with approximately $5.8 million in cash, cash equivalents and short-term investments. Additionally, current assets at the end of the quarter included approximately $3.0 million in accounts receivable.

"In line with our strategy, Trega has in recent months advanced the development and commercialization of its iDEA (TM) Predictive ADME Simulation System, which simulates, in silico, how drug candidates will be processed in the body. We are excited to see that the trend toward in silico testing is gathering momentum among research scientists, as evidenced by a number of presentations last week at the American Association of Pharmaceutical Scientists conference. These included several presentations on our iDEA (TM) module for absorption, which is the only absorption model commercially available with an independently validated high level predictive capability. We also previewed at the meeting our iDEA (TM) module for metabolism, which is scheduled for a year-end commercial launch," said Michael G. Grey, President and CEO of Trega Biosciences.

Mr. Grey continued, "During the third quarter, we completed initial license agreements to the iDEA (TM) absorption module with F. Hoffmann- LaRoche, Ltd. and Aventis Pharma AG as well as a worldwide license for both the absorption and metabolism modules to Janssen Research Foundation and its Johnson & Johnson affiliates. Revenues from the iDEA (TM) licenses will be recognized over the term of the licenses. Moreover, in this quarter we continued to provide Chem.Folio (R) combinatorial libraries to both new and repeat customers."

Trega Biosciences, Inc. is a premier provider of products that accelerate and improve drug discovery through its iDiscovery (TM) technologies linking biology and chemistry with information technologies. Trega's iDEA (TM) Predictive ADME Simulation System of information-based models simulate, in silico, how drug candidates will be processed in the body, thereby enabling selection of those with optimal characteristics for clinical development. Together with its iDEA (TM) products, Trega's Chem.Folio (R) libraries of information-enhanced small molecules are designed to facilitate the identification and optimization of drug candidates. For additional information on Trega, please visit our Web site at trega.com.

Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties. The Company's quarterly and annual financial performance may be subject to fluctuations depending on factors such as the receipt, timing and amount of revenue recognized from sales, licenses and collaborations, timing of the delivery of products and technologies, the completion of contracted service commitments to Trega's customers and partners, and potential future acquisitions or disposition of complementary assets or technologies. Accordingly, revenue and operating results for prior periods may not be indicative of Trega's future financial results. Other forward-looking statements could include whether the Company's resources are sufficient to enable it to reach its business objectives, whether any research or development activities to be conducted as described will be successful, whether any additional collaborations or alliances will be formed or expanded, whether any such products can be successfully marketed, the impact of competitive products and pricing in marketing success, whether any other corporate collaborations or alliances will be successful, and other risks detailed from time to time in Trega's Securities and Exchange Commission filings. These forward-looking statements represent Trega's judgment as of the date of this release. Actual results may differ materially from those projected. Trega disclaims, however, any intent or obligation to update these forward-looking statements.

TREGA BIOSCIENCES, INC.

Condensed Consolidated Statements of Operations

(Unaudited)

(in thousands, except per share data)

Three Months Ended Nine Months Ended

September 30, September 30,

2000 1999 2000 1999

Revenues:

Compound revenues $2,504 $2,822 $4,814 $4,383

Contract research

and licenses fees 899 1,102 3,183 4,133

Net sales 7 76 50 265

Total revenues 3,410 4,000 8,047 8,781

Costs and expenses:

Cost of sales 29 83 136 242

Research and

development 5,036 4,593 13,635 13,534

Selling, general

and administrative 2,271 1,682 6,568 5,187

Total costs

and expenses 7,336 6,358 20,339 18,963

Loss from operations

before equity in losses

of affiliate $(3,926) $(2,358) $(12,292) $(10,182)

Equity in losses

of affiliate (111) (16) (451) (16)

Loss from operations (4,037) (2,374) (12,743) (10,198)

Interest and

other income

(expense), net (78) 32 1,180 1,687

Net loss $(4,115) $(2,342) $(11,563) $(8,511)

Basic and diluted

net loss per share $(0.18) $(0.13) $(0.53) $(0.47)

Shares used in

computing basic

and diluted

net loss per share 23,337 18,537 21,986 18,150

TREGA BIOSCIENCES, INC.

Condensed Consolidated Balance Sheets

(in thousands)

September 30, December 31,

2000 1999

(unaudited)

Cash, cash equivalents and

short-term investments $5,840 $6,434

Accounts receivable and

other current assets 3,888 2,541

Property and equipment, net 4,647 4,179

Other assets 8,460 9,507

Total assets $22,835 $22,661

Current liabilities $7,866 $8,155

Long-term liabilities 3,510 2,996

Stockholders' equity 11,459 11,510

Total liabilities and stockholders' equity $22,835 $22,661

CONTACTS:

Gerard A. Wills

Chief Financial Officer

858-410-6695

Cynthia Reindal

Associate, Corporate Communications

Investor Relations

858-410-6601

SOURCE Trega Biosciences, Inc.

CO: Trega Biosciences, Inc.

ST: California

IN: MTC

SU: ERN

11/09/2000 07:59 EST prnewswire.com

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To: E.J. Neitz Jr who started this subject12/4/2000 4:28:42 PM
From: bob zagorin
   of 152
 
Virtual CEO Summit Four-Day Conference to Reach Internet Audience OfIndividual and Professional Investors

Financial Relations Board/BSMG Worldwide Hosts Internet Conference in Partnership with StreetFusion, PR Newswire and Vcall

CHICAGO, Dec. 4 /PRNewswire/ -- The Financial Relations Board/BSMG Worldwide today announced its third major online investor conference that brings thirty public companies together with individual and professional investors. The December 2000 Virtual CEO Summit, an online conference to be held December 5-8, is a teaming of FRB/BSMG Worldwide's publicly held clients with Internet investor outreach powerhouses StreetFusion, PR Newswire and Vcall.

Slide presentations of the participating companies will be Webcast simultaneously at each of these three Web sites: www.streetfusion.com, www.prnewswire.com and www.vcall.com . The conference, which begins at 10:00 a.m. Eastern on Tuesday, December 5, also can be accessed at www.frbinc.com .

The December 2000 Virtual CEO Summit conference gives investors the opportunity to view the investment slideshows of the participating companies and listen live to CEO presentations via the Internet, and also to ask questions to management via e-mail. Following the live Webcasts, replays of the presentations will be available for the next 90 days.

Conference Participants

The thirty public companies participating in the Virtual CEO Summit online conference include Alberto-Culver Company (ACV/ACVA); Anixter International Inc. (AXE); Applied Imaging Corp. (AICX); Arthur J. Gallagher & Co. (AJG); Aspect Medical Systems, Inc., (ASPM); BEA Systems, Inc. (BEAS); Boston Communications Group, Inc. (BCGI); Centura Software Corporation (CNTR); Cornell Companies, Inc. (CRN); eGain Communications Corporation (EGAN); Glimcher Realty Trust (GRT); Group 1 Automotive, Inc. (GPI); IDEX Corporation (IEX); Ingersoll-Rand Company (IR); Lexington Corporate Properties Trust (LXP); Material Sciences Corporation (MSC); McDATA Corporation (MCDT); NTN Communications, Inc. (NTN); POZEN, Inc. (POZN); School Specialty, Inc. (SCHS); SERENA Software, Inc. (SRNA); Somera Communications, Inc. (SMRA); The ServiceMaster Company (SVM); Transportacion Maritima Mexicana, SA de CV (TMM); Trega Biosciences, Inc. (TRGA); Valassis Communications, Inc. (VCI); Ventana Medical Systems, Inc., (VMSI); Viador Inc. (VIAD); Vysis, Inc. (VYSI); Youbet.com, Inc. (UBET).

Conference Schedule

A complete schedule and listing of dates and times for the presenting firms is available via the Financial Relations Board/BSMG Worldwide Web site at www.frbinc.com .

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To: E.J. Neitz Jr who started this subject12/6/2000 11:48:25 AM
From: bob zagorin
   of 152
 
Trega Biosciences, Inc. Invites You to Join Its Virtual CEO Summit Webcast

SAN DIEGO, Dec. 6 /PRNewswire/ -- Trega Biosciences, Inc. (Nasdaq: TRGA) invites you to listen to its Webcast that will be broadcast live over the Internet on Friday, December 8, 2000 at 10 am ET with Mike Grey, President & CEO, and Gerry Wills, VP Finance and CFO of Trega Biosciences, Inc.

What: Trega Biosciences, Inc. Webcast

When: Friday, December 8, 2000 at 10 am ET

Where: videonewswire.com

How: Live over the Internet -- Simply log on to the web at the

address above

Contact: Margie Baigh of The Financial Relations Board,

312-640-6690,

Trega Biosciences, Inc. is a premier provider of products that accelerate and improve drug discovery through its iDiscovery (TM) technologies linking biology and chemistry with information technologies. Trega's iDEA (TM) Predictive ADME Simulation System of information-based models simulate, in silico, how drug candidates will be processed in the body, thereby enabling selection of those with optimal characteristics for clinical development. Together with its iDEA (TM) products, Trega's Chem.Folio (R) libraries of information-enhanced small molecules are designed to facilitate the identification and optimization of drug candidates. For additional information on Trega, please visit our Web site at www.trega.com

If you are unable to participate during the live Webcast, the call will be archived on these sites for 90 days.

(Minimum Requirements to listen to broadcast: The RealPlayer software, downloadable free from www.real.com/products/player/index.html, and at least a 14.4Kbps connection to the Internet. If you experience problems listening to the broadcast, send an email to webmaster@vdat.com.)

SOURCE Trega Biosciences, Inc.

CO: Trega Biosciences, Inc.

ST: California

IN: MTC BIO

SU:

12/06/2000 11:00 EST prnewswire.com

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To: E.J. Neitz Jr who started this subject12/13/2000 10:53:46 AM
From: bob zagorin
   of 152
 
Trega Biosciences Licenses iDEA(TM) Absorption Module to Tibotec Group;Trega's Drug Discovery Products Appeal to Emerging Pharmaceutical Company

SAN DIEGO, Dec. 13 /PRNewswire/ -- Trega Biosciences, Inc. (Nasdaq: TRGA), a company focused on commercializing technologies and products for accelerating drug discovery and development, today announced that Tibotec Group N.V., an emerging pharmaceutical company headquartered in Mechelen, Belgium, has licensed Trega's iDEA(TM) Predictive ADME Simulation System for absorption. Tibotec will utilize the iDEA(TM) absorption module in its drug discovery activities, which are currently focused in the area of HIV and AIDS. Tibotec was granted a multi-year site license to the iDEA(TM) absorption module and has an option to license the iDEA(TM) metabolism module which is scheduled for release at the end of this year. Financial terms were not disclosed.

"We are very excited about gaining access to Trega's iDEA(TM) Predictive ADME Simulation System, because we believe that in silico technologies will assist our scientists in accelerating the drug discovery and development process," said Tibotec chief executive officer Dr. Rudi Pauwels.

"Our licensing agreement with Tibotec reflects the expanding market for our iDEA(TM) Predictive ADME Simulation System among smaller progressive pharmaceutical and biotechnology companies. These modules have been designed to accelerate and refine current drug discovery efforts and can offer improved timelines to a wide range of pharmaceutical and biotechnology companies," said Michael G. Grey, president and chief executive officer. "We view the expansion of the market for our products as an indication of the success our initial licensees have had with our products which we believe can be duplicated across the biopharmaceutical industry."

The iDEA(TM) Predictive ADME (absorption, distribution, metabolism, excretion) Simulation System for absorption is an efficient, validated and highly predictive in silico solution developed in conjunction with five prominent pharmaceutical companies. The absorption module was constructed to simulate the physiological process of drug absorption, and incorporates human physiological parameters. The model is trained with a proprietary database of in vitro and human in vivo pharmacokinetic data for selected drugs and drug candidates, including many that failed in the development process. This training set of compounds is unique in that it represents a very diverse set of drug properties. Trega plans to complete a metabolism module at the end of this year and subsequently develop additional modules that will enable the complete prediction of bioavailability.

Tibotec is an emerging pharmaceutical company that has established a powerful and effective platform for rapidly discovering and developing superior drugs for unmet medical needs. The Company is initially focusing its efforts on HIV and AIDS. Tibotec has created this platform by combining leading edge, proprietary drug discovery tools with a multidisciplinary and integrated approach to the drug discovery and development process. Tibotec is developing novel anti-HIV drugs that address the serious problems of drug resistance, compliance and side effects. Tibotec was founded in 1994 and has over 150 staff worldwide. The Company has three sites: Mechelen, Belgium; Rockville, Maryland, USA; and Dublin, Ireland. For more information on Tibotec please see the website at tibotec.com.

Trega Biosciences, Inc. (Nasdaq: TRGA) is a premier provider of products that accelerate and improve drug discovery through its iDiscovery(TM) technologies linking biology and chemistry with information technologies. Trega's iDEA(TM) family of information-based models simulate, in silico, how drug candidates will be processed in the body, thereby enabling selection of those with optimal characteristics for clinical development. Together with its iDEA(TM) products, Trega's ChemFolio(R) libraries of information-enhanced small molecules are designed to facilitate the identification and optimization of drug candidates. For additional information on Trega, please visit our Web site at trega.com.

Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including whether this transaction will be successful, any additional licenses, alliances or other transactions will be agreed to, formed or expanded, whether any such transactions will be successful, the impact of competitive products and pricing, and other risks detailed from time to time in Trega's Securities and Exchange Commission filings. These forward-looking statements represent Trega's judgment as of the date of this release. Trega disclaims, however, any intent or obligation to update these forward-looking statements.

SOURCE Trega Biosciences, Inc.

CO: Trega Biosciences, Inc.; Tibotec Group N.V.

ST: California, Belgium

IN: MTC BIO

SU: LIC

12/13/2000 08:01 EST prnewswire.com

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To: E.J. Neitz Jr who started this subject12/13/2000 3:11:18 PM
From: bob zagorin
   of 152
 
12/11/00 - iResearch System Captures Most Innovative New Product 2000 Award Over

SAN DIEGO, Dec 11, 2000 (BUSINESS WIRE) -- ChemNavigator, which links drug discovery researchers to the world's largest source of chemical compounds and cross-referenced drug discovery information, today joined the ranks of such San Diego giants as Qualcomm, IDEC Pharmaceuticals, Advanced Tissue Sciences and HNC Software, all previous winners of a Most Innovative New Product Award from UCSD CONNECT. ChemNavigator won this year in the Internet/Software: Application Service Provider category for its iResearch(TM) System.

ChemNavigator launched in March 2000 as one of the first companies to utilize the Web to its fullest extent by converging high-tech and biotech to create an ASP model for life scientists. The company serves pharmaceutical and biotechnology companies, as well as independent research and academic institutes, in their pursuit to bring new drugs to market faster and more cost effectively.

The iResearch System, based on ChemNavigator's patent-pending Fuzzy Similarity Join technology, is an extremely powerful search engine, able to search a database of over one million compounds in seconds flat. It has answered a need in the industry to provide a chemical structure-based search engine that excludes superfluous data and delivers exactly what the researcher wants.

The iResearch System is used to sketch, identify and purchase samples of drug-like compounds from a growing collection of international suppliers. Simultaneously, the system retrieves cross-referenced data on FDA filings, public meeting procedures and therapeutic patents.

"The massive amounts of data that life science researchers have to deal with, especially with the advances made in the Human Genome Project, can only be channeled into life-saving drug discoveries with the help of innovative technologies," said Scott Hutton, president of ChemNavigator. "The iResearch System gives researchers an efficient, low cost option for accessing chemistry that will ultimately mean new drugs on the medicine cabinet shelf sooner and for less money. We're proud of our work and honored to have been selected from such a distinguished group."

About ChemNavigator

ChemNavigator links life scientists to the world's largest global inventory of commercially available chemical compounds and information. Its proprietary iResearch System platform supports structure-based queries across a secure, rapidly growing database of over one million drug-like compounds, significantly streamlining the research and compound-procurement process. ChemNavigator facilitates complex purchases across multiple suppliers while providing access to valuable research information. Founded in 1999, ChemNavigator has formed over 15 partnerships and has earned a seal of approval from Verisign for safe and secure Internet connections for business transactions. For more information, visit www.chemnavigator.com.

About UCSD CONNECT

UCSD CONNECT was founded in 1985 to foster economic development in the San Diego region. UCSD and the local business community envisioned an organization that would encourage the growth of high-technology companies to respond to the decline of the space and defense industries, and to replace them as the driving force behind the San Diego economy. UCSD CONNECT became an "incubator without walls," nurturing entrepreneurship in high-tech and life science industries.

UCSD CONNECT links entrepreneurs with the resources they need for success: money, markets, management, partners, support services and access to government officials. Its programs also help business service providers, attorneys, accountants, bankers, investors and marketing professionals by providing them with the knowledge about emerging technologies and access to new business opportunities.

UCSD CONNECT is entirely self-supporting and receives no funding from the University or the state of California. It is supported by membership dues, course fees and corporate underwriting for specific programs. For more information, see www.connect.org.

CONTACT: ChemNavigator, San Diego
Noel Wheeler, 858/450-9740 ext. 322
nwheeler@chemnavigator.com
or
The Gable Group
Dana Perino, 619/234-1300 ext. 238
dana@gablegroup.com

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To: E.J. Neitz Jr who started this subject12/19/2000 1:05:32 PM
From: John Starks
   of 152
 
any idea (no pun intended) what on earth is going on? over 500,000 shares traded? someone obviously knows something I don't. any help would be appreciated.

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To: John Starks who wrote (142)12/19/2000 6:29:49 PM
From: bob zagorin
   of 152
 
i searched for news today and can find none. i bot a little more. i think it's just tax selling which sparked another herd stampede for the cliffs. tuck it away for 6 mos. and then sell it if it hasn't quadrupled.

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To: E.J. Neitz Jr who started this subject12/27/2000 2:34:47 AM
From: bob zagorin
   of 152
 
LION bioscience to Acquire Trega Biosciences

Combined Organization to Offer Comprehensive Information Management Solutions for Life Sciences

HEIDELBERG, Germany and SAN DIEGO, Dec. 27 /PRNewswire/ -- LION bioscience AG (Nasdaq: LEON) (Neuer Markt: LIO) and Trega Biosciences, Inc. (Nasdaq: TRGA) today announced that they have signed an agreement for LION to acquire 100% of the equity of Trega in exchange for LION American Depositary Shares (ADS). This transaction values Trega at approximately $35 million, or an estimated $1.35 per share on a fully diluted basis, subject to certain pre-closing adjustments. The final exchange ratio will depend on a number of factors, including LION's average closing price per ADS for the 10 trading days ending 2 trading days prior to the meeting of Trega stockholders. The $35 million valuation of Trega presumes that such price will not be lower than $68 or greater than $92. If LION's average closing price per ADS over this time period is below this range, the exchange ratio will be based upon a deemed price of $68 per LION ADS; if such price is above this range, the exchange ratio will be based upon a deemed price of $92 per LION ADS. Upon completion of the transaction, Trega will become a wholly owned subsidiary of LION.

LION and Trega will combine complementary technologies and products, which are expected to significantly enhance LION's position as a leading provider of comprehensive solutions for enterprise-wide data integration, data analysis and information management solutions for the Life Sciences industry.

The vision and the capabilities of the two companies are highly synergistic. LION's Life Science Informatics (LSI(TM)) business, which includes the industry leading SRS platform, "SCOUT" integration and analysis products, and i-biology(TM), its overall corporate-wide R&D-IT solution, is expected to benefit from Trega's iDEA(TM) Predictive ADME (absorption, distribution, metabolism and excretion) Simulation System. This product simulates, in silico, how drug candidates will be processed in humans. Combining LION's drug discovery expertise and integrated software solutions for all types of biological data with Trega's iDEA(TM) Simulation System software provides the basis for a leading platform for the development of a comprehensive solution for toxico-genomics and toxicology prediction software. Furthermore, LION's information-driven drug discovery and diagnostics business, called iD3(TM), is expected to benefit from the addition of Trega's ChemFolio(R) libraries of information-enhanced small molecules, as well as from its medicinal chemistry, assay development, screening technology and general drug discovery capabilities.

This transaction is designed to broaden LION's reach into the many aspects of the drug discovery process. It will also enhance LION's ability to utilize information to accelerate the transformation of genes to targets, and targets to drugs, as well as to improve the efficiency and effectiveness of generating validated target/lead combinations in the nuclear receptor area.

"Through the merger of the two companies we combine complementary technologies and products in the area of Life Science informatics and drug discovery. This transaction will further strengthen LION's strategic position as a leading provider of comprehensive solutions for enterprise-wide data integration and management in the Life Science R&D sector. The Trega team consists of outstanding professionals and our cultures match perfectly. We intend to strengthen and build on this San Diego-based organization to expand LION's U.S. presence and serve our partners worldwide," says LION's CEO Friedrich von Bohlen.

"We believe this event marks a major advance in the industry-wide shift towards in silico drug discovery," said Michael G. Grey, president and CEO of Trega. "Not only will the combined company be able to provide a comprehensive range of tools that span the drug discovery continuum, but it also has the potential to revolutionize how drug discovery is conducted in the future." After closing the transaction, Mr. Grey will serve as CEO of LION's combined U.S. based subsidiaries, LION bioscience, Inc.

The completion of the transaction is subject to closing conditions including approval of the transaction by Trega's stockholders. The transaction is expected to close in March or April 2001. LION will issue new shares out of its authorized capital in order to acquire all outstanding shares of Trega in a stock-for-stock transaction using LION's American Depositary Shares (ADS). The preemptive right of existing LION shareholders in connection with this transaction has been excluded. LION will also provide a stand-by line of credit of $1 million to assist funding Trega's operations until closing.

About LION bioscience AG

LION bioscience AG (Nasdaq: LEON) (Neuer Markt: LIO) is a pioneer in the field of enterprise-wide R&D data analysis and information management systems and solutions for the life sciences and, particularly, the healthcare industry. The overall integration system is i-biology. i-biology solutions are offered to partners and form the basis for LION's internal IT-driven drug discovery efforts on nuclear receptors. To date, LION AG has established numerous alliances in informatics and genomics with leading Life Science research companies, including Aventis, Bayer, Boehringer Ingelheim, Celera, DuPont, Glaxo Wellcome, Janssen, Merck Inc., Nestle, Novartis, Pharmacia & Upjohn, SmithKline Beecham and Sumitomo Pharmaceuticals. For additional information on LION, please visit our Web Site at lionbioscience.com .

All statements in this press release that are not historical are forward-looking statements within the meaning of the U.S. securities laws. Such statements are based on current expectations that are subject to risks and uncertainties. Actual results may vary materially from those projected because of factors such as uncertainties relating to technologies, product development, or manufacturing, market acceptance, cost or pricing of LION's products, dependence on collaborations and partners, regulatory approvals, competition, intellectual property of others, or patent protection and litigation. These and other risk factors are discussed in LION's Registration Statement on Form F-1 declared effective by the Securities and Exchange Commission on August 9, 2000. LION expressly disclaims any obligation or undertaking to release publicly any updates, revisions or corrections to any forward-looking statements or historical information contained herein. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially.

About Trega Biosciences, Inc.

Trega Biosciences, Inc. (Nasdaq: TRGA) is a premier provider of products that accelerate and improve drug discovery through its iDiscovery(TM) technologies linking biology and chemistry with information technologies. Trega's iDEA(TM) family of information-based models simulate, in silico, how drug candidates will be processed in the body, thereby enabling selection of those with optimal characteristics for clinical development. Together with its iDEA(TM) products, Trega's ChemFolio(R) libraries of information-enhanced small molecules are designed to facilitate the identification and optimization of drug candidates. For additional information on Trega, please visit our Web site at trega.com .

Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including whether the transaction described will be completed, whether Trega's resources are sufficient to enable it to reach its business objectives, whether any research or development activities will be successful, whether any additional collaborations or alliances will be agreed to, formed or expanded, whether regulatory approvals can be obtained for products discovered and developed, if any, whether any products can be successfully marketed, the impact of competitive products and pricing in marketing success, whether any other corporate collaborations or alliances will be successful, the value of LION stock in the future, and other risks detailed from time to time in Trega's Securities and Exchange Commission filings. These forward-looking statements represent Trega's judgment as of the date of this release. Actual results may differ materially from those projected. Trega disclaims, however, any intent or obligation to update these forward-looking statements.

Contacts:

Michael G. Grey

Trega Biosciences, Inc.

President & CEO

858-410-6500

For LION bioscience:

Ernie Knewitz

Noonan/Russo Communications, Inc.

212-696-4455, ext. 204

ernie.knewitz@noonanrusso.com

SOURCE LION bioscience AG and Trega Biosciences, Inc.

CO: LION bioscience AG; Trega Biosciences, Inc.

ST: California, Germany

IN: BIO MTC

SU: TNM

12/27/2000 02:00 EST prnewswire.com

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