SAN DIEGO, May 11 /PRNewswire/ -- Trega Biosciences, Inc. (Nasdaq: TRGA),
today announced that it has expanded its relationship with Boehringer
Ingelheim International GmbH by entering into a second agreement for the
custom synthesis of exclusive compound libraries. The terms of the
collaboration include the custom synthesis of directed libraries by Trega,
using solution phase methods, which are to be created to meet the
specifications of Boehringer Ingelheim and delivered to them with the
libraries' associated information. Financial terms were not disclosed.
"We are pleased to be expanding our relationship with Boehringer
Ingelheim," said Michael G. Grey, president and CEO of Trega. "We believe
that Boehringer Ingelheim's recognition of Trega's expertise and performance
in creating and optimizing compounds using solution phase methods is a great
validation of our abilities."
"Our previous experience with Trega has shown that Trega is highly
experienced in solution phase combinatorial chemistry. The extension of the
collaboration will allow Boehringer Ingelheim to expand our compound
collection by additional targeted libraries," said Prof. Bernd Wetzel, Head of
Corporate Division Research and Development at Boehringer Ingelheim.
The Boehringer Ingelheim group of companies, with headquarters in
Ingelheim (Germany) is one of the 20 leading pharmaceutical corporations in
the world. It reported revenues of almost DEM 10 billion in 1999. The
corporation has some 140 affiliated companies and it conducts business on
every continent. Its product range is focused on human pharmaceuticals
-- hospital, prescription and self-medication -- as well as animal health.
Substantial research and development, production, and distribution facilities
are located around the globe. In 1999 Boehringer Ingelheim spent
DEM 1.6 billion on R&D, equivalent to 16% of total sales.
For more information on Boehringer Ingelheim please see also the company's
Internet webpage http://www.boehringer-ingelheim.com.
Trega Biosciences is an information-driven company focused on accelerating
drug discovery from disease targets to clinical candidates through its
iDiscovery(TM) technologies. These technologies, comprised of
information-rich small molecule combinatorial chemistry and in vitro assays
coupled with predictive models and proprietary databases, are designed to
rapidly create novel drug candidates having greater chances of clinical
success. Trega's iDiscovery(TM) technologies span the drug discovery process,
beginning with the creation of novel compounds to the delivery of uniquely
qualified drug leads to the pharmaceutical and life science industries.
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 collaboration will be
successful, whether regulatory approvals can be obtained for products
discovered and developed, if any, the impact of competitive products and
pricing, whether any other 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.
For copies of press releases and additional information about the Company,
please consult Trega's homepage on the World Wide Web at http://www.trega.com
or by PR Newswire's fax-on-demand service at 1-800-758-5804, extension 374050.
SOURCE Trega Biosciences, Inc.
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Related links:
http://www.trega.com
Company News On-Call:
http://www.prnewswire.com/comp/374050.html or fax,
800-758-5804, ext. 374050
CONTACT:
Gerard A. Wills, Vice President, Finance &
CFO, 858-410-6695; or Cynthia Reindal, Corp. Communications &
Investor Relations, 858-410-6601, both of Trega Biosciences, Inc.
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