YARDLEY, Pa., Jan. 8 /PRNewswire/ --
3-Dimensional Pharmaceuticals, Inc. (Nasdaq: DDDP) (3DP) today announced that
David C. U'Prichard, Ph.D., Chief Executive Officer, will present at the 20th
Annual JP Morgan H&Q Healthcare Conference at 8:00 a.m. PT, 11:00 a.m. ET on
Wednesday, January 9, 2002. 3DP's presentation will be webcast live and
archived for 30 days after the conference. For access to the webcast, please
visit the "Investor Relations" page at: http://www.3dp.com and click on the "Events
Calendar" link.
3DP is a drug discovery and development company with a powerful
chemogenomics and chemistry engine. Its longer-term goal is to become a
successful specialty pharmaceuticals company. 3DP has built a solid pipeline
supported by a strong revenue base as a platform for achieving the goal.
3DP will recognize cumulative partnership revenue of over $50 million
during 2001 and 2002 without any new deals. 3DP's largest discovery
partnership is with Bristol Myers-Squibb (BMS). BMS paid 3DP $19 million to
use components of 3DP's discovery technology, is paying 3DP about $14 million
cumulatively over three years for lead discovery and will pay 3DP milestones
and royalties on sales.
In development, Johnson and Johnson/Centocor (J&J) exclusively licensed
rights to 3DP's oral thrombin inhibitors. 3DP has the potential to receive
over $40 million in milestone payments ($10 million received into Phase I) and
royalties on sales. Oral Thrombin inhibitors have annual sales potential of
over $1 billion. Last week, J&J expanded its relationship with 3DP by
initiating a DiscoverWorks(R) drug discovery partnership.
3DP has several promising discovery programs ranging from lead
identification efforts focused in oncology and metabolic diseases to promising
programs that are approaching clinical trials. In addition to the thrombin
inhibitors program, 3DP's most advanced programs are:
-- C1s complement inhibitors that may treat Lupus, Rheumatoid Arthritis,
other autoimmune disorders and acute respiratory distress syndrome;
-- Urokinase Inhibitors that may treat solid tumors and cardiovascular
disease (partnered with Schering/Berlex);
-- avb3/avb5 Integrin Antagonists that may treat solid tumors, bone
disease, rheumatoid arthritis, diabetic retinopathy and macular
degeneration; and
-- Hdm2/p53 Antagonists that may be useful adjuvant and primary treatments
for cancer.
This week, 3DP acquired worldwide rights to a pre-IND TPO mimetic from
GlaxoSmithKline. The TPO mimetic will be used as a replacement for platelet
infusions -- over two million per year in the United States alone. The
product's lead chemo-induced thrombocytopenia indication fits well within
3DP's oncology focus and allows 3DP to accelerate development of its product
development expertise in oncology.
Including the TPO mimetic, 3DP could have up to five drugs in clinical
development during the next two years with the most advanced program in Phase
II. 3DP intends to develop drugs in oncology and other concentrated specialty
areas. 3DP programs hold strong competitive positions and target very large
markets. This should provide the company with ample future partnering
opportunities.
About the Company
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(R), 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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Related links:
http://www.3dp.com
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/105853.html
CONTACT:
Corporate: Scott Horvitz, VP, Finance and
Administration of 3-Dimensional Pharmaceuticals, +1-267-757-7208,
or horvitz@3dp.com; or Media: Glenn Silver of Noonan/Russo
Communications, +1-212-696-4455, ext. 271, or
g.silver@noonanrusso.com; or Investors: Melody Carey of Rx
Communications, +1-917-322-2571, or mcarey@rxir.com, both for
3-Dimensional Pharmaceuticals
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