LA JOLLA, Calif., Jan. 19 /PRNewswire/ -- SIBIA Neurosciences Inc.
(Nasdaq: SIBI) today announced the granting of a Canadian patent (2,087,532)
and receipt of a "Notice of Granting" from the European Patent Office
encompassing claims corresponding to those issued by the United States Patent
Office in its U.S. Patent 5,401,629 ('629).  The '629 patent was the subject
of recent litigation between SIBIA and Cadus Pharmaceuticals, Inc. and of a
favorable jury verdict recently announced with an $18M award for past damages.
    The claims issued in the '629 patent, and now granted in the corresponding
Canadian and European patents, apply broadly to transcription-based assay
screening technologies used to identify potential drug compounds which
interact with cell surface receptors or ion channels.  The international
application designating Canada and Europe was filed in 1991 and claimed
priority to the '629 patent application.
    Dr. William T. Comer, President and CEO at SIBIA Neurosciences stated,
"Having successfully validated our patent rights to the jury in our litigation
with Cadus Pharmaceuticals, Inc. in U.S. District Court, we are delighted that
the Canadian and European Patent Offices have also recognized the novelty of
our pioneering invention.  We believe that this technology is being used by a
number of biotechnology and pharmaceutical companies and are presently
reviewing our licensing strategies for this technology."
    SIBIA Neurosciences, Inc. is engaged in the discovery and development of
novel small molecule therapeutics for the treatment of neurodegenerative,
neuropsychiatric and neurological disorders, many of which have large patient
populations and represent critical unmet medical needs.  SIBIA is a leader in
the development of proprietary drug discovery platforms that combine key tools
necessary for modern drug discovery, including genomics, high throughput
screening, advanced combinatorial chemistry techniques and pharmacology.  The
Company's proprietary molecular targets and drug candidates, together with its
drug discovery technologies and research expertise, have enabled the Company
to establish several corporate collaborations, which currently include
Bristol-Myers Squibb Company and Meiji Seika Kaisha, Ltd., and multiple
technology licensing arrangements.

    This press release contains forward-looking statements that involve risks
and uncertainties.  Actual results could differ materially from those
discussed herein.  These risks and uncertainties include risks and
uncertainties regarding the Company's ongoing litigation with Cadus, including
uncertainties regarding pending post-trial motions and appeals, risks and
uncertainties regarding the Company's patents, whether SIBIA will be able to
meet its development goals, the new and uncertain state of SIBIA's
technologies, SIBIA's future capital needs and the uncertainty of receiving
additional funding, uncertainties regarding patents and proprietary rights,
and other research, development and market risks.  These and other risks and
uncertainties are more fully set forth in SIBIA's most recently filed Forms
10-Q and 10-K.

Link to this page: