- Discovery May Lead to Development of More Effective Fungicides -
RESEARCH TRIANGLE PARK, N.C., April 22 /PRNewswire-FirstCall/ -- Paradigm
Genetics, Inc. (Nasdaq: PDGM), a biotechnology company, today announced that
the company has been issued U.S. Patent No. 6,723,529, titled "Methods for the
Identification of Inhibitors of Alpha-Aminoadipate Reductase as Antibiotics."
The patent covers the discovery of a novel gene target (Alpha-Aminoadipate
Reductase) in the biochemical pathway by which fungi produce lysine, a
nutrient necessary for the growth and development of fungi, as well as methods
enabling the discovery of chemicals that inhibit gene protein activity within
the lysine pathway. Chemical compounds discovered by Paradigm's patented
method may lead to the development of more effective, less toxic fungicides,
which are highly sought after throughout the agricultural industry.
"The issuance of this patent significantly strengthens our intellectual
property position on important fungicide target pathways and further
demonstrates our ability to apply a systems biology approach to gain a more
comprehensive understanding of entire biological systems," Keith Davis, Ph.D.,
Vice President, Agricultural Research. "Our scientists were able to identify a
second novel target within the lysine synthesis pathway. By inhibiting steps
along this critical pathway, we can potentially prevent the growth of fungi
known to harm commercial crop production. We believe this discovery will have
significant commercial applications, as companies aggressively pursue the
development of fungicides that are environmentally safe and more effective
than existing products."
"This discovery supports our strategy of leveraging our technologies,
intellectual property and expertise to begin developing our own product
opportunities, while continuing to provide the highest quality research for
our current and future partners," said Heinrich Gugger, Ph.D., President and
CEO. "This patent, along with the other four fungicide discovery patents
issued in the past year, represent the first fruit of our investment in this
area and is the beginning of a pipeline of patents we expect to issue in the
years to come. Our plan is to use this growing IP portfolio to develop
proprietary fungicide products and to drive high value R&D collaborations with
agrichemical companies."
Paradigm also announced the issuance of two additional fungicide discovery
patents, bringing the company's total fungicide patent portfolio to five. One
of the new patents (U.S. Patent No. 6,703,200) broadens the scope of
Paradigm's proprietary TAG-KO(R) technology, a tool for the rapid and
systematic mutation of pathogenic fungi, enabling the efficient identification
of novel antifungal and fungicide targets as well as novel biosynthetic and
degradation pathways. The second patent (U.S. Patent No. 6,689,578) protects a
fungicide target in the heme production pathway. Paradigm Genetics has 19 U.S.
issued patents in total.
About Paradigm Genetics
Paradigm Genetics is a biotechnology company using proprietary systems
biology to discover biomarkers to reduce the cost, risk and time of product
development, as well as to discover inaccessible targets for small molecule
discovery, both for our partners and for Paradigm Genetics. Paradigm Genetics
has major collaborations with the National Institute of Environmental Health
Sciences, the National Institute of Standards & Technology's Advanced
Technology Program, Bayer CropScience, the Monsanto Company, Pioneer Hi-Bred
International Inc. and L'Oreal Inc. For more information,
visit http://www.ParadigmGenetics.com .
This press release contains forward-looking statements, including
statements regarding the Company's expectations for using its systems biology
platform to discover biomarkers and inaccessible targets for small molecule
discovery. Such forward-looking statements are based on management's current
expectations and are subject to a number of risks, factors and uncertainties
that may cause actual results, events and performance to differ materially
from those referred to in the forward-looking statements. These risks, factors
and uncertainties include, but are not limited to, Paradigm's early stage of
development, history of net losses, technological and product development
uncertainties, reliance on research collaborations, uncertainty of additional
funding and ability to protect its patents and proprietary rights. Certain of
these and other risks are identified in Paradigm's annual report on Form 10-K
for the year ended December 31, 2003, filed with the Securities and Exchange
Commission. The Company does not intend to update any of the forward-looking
statements after the date of this release to conform these statements to
actual results or to changes in our expectations, except as may be required by
law.
SOURCE Paradigm Genetics, Inc.
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Related links:
http://www.paradigmgenetics.com
CONTACT:
Melissa Matson, Director, Corporate
Communications of Paradigm Genetics, Inc., +1-919-425-3000; or
Brian Ritchie or Mark Vincent of Noonan Russo Presence Euro RSCG,
+1-212-845-4200
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