SAN DIEGO, Jan. 26 /PRNewswire/ -- Trega Biosciences, Inc. (Nasdaq: TRGA)
and Torrey Pines Institute for Molecular Studies (TPIMS), today announced that
effective July 14, 1998 they will discontinue their research and licensing
arrangement entered into in March 1990. Under the terms of the arrangement,
Trega funded research at TPIMS in exchange for an option to license resulting
inventions. In general, these inventions focused on mixture-based
combinatorial chemistry synthesis and screening. The two organizations have
agreed to discontinue their collaboration as a consequence of the divergence
of their respective research directions.
"We have been pleased with our long association with Richard Houghten and
the scientists at TPIMS," stated Robert S. Whitehead, Trega's president and
chief executive officer. "During the company's early development, TPIMS was
instrumental in helping Trega establish its chemistry program. However, with
the shift in Trega's combinatorial chemistry program from mixture-based
peptide libraries to single-based heterocyclic compound arrays, both
organizations believe that it is in our best interests to focus our respective
resources in areas consistent with our research philosophies."
"The long-standing relationship between TPIMS and Trega has been mutually
beneficial, and I am pleased to have had such a productive partnership in the
area of combinatorial chemistry," stated Richard A. Houghten, Ph.D., president
of TPIMS. "TPIMS is now looking forward to continuing its development and use
of mixture-based peptides, peptidomimetic and heterocyclic combinatorial
libraries. One of our current research areas focuses on the development of T-
cell based therapeutics for cancer and autoimmune diseases."
TPIMS is a not-for-profit research institute dedicated to the development
and use of new approaches for the identification of novel drugs for treatment
of a wide variety of human conditions, including cancer, pain and Alzheimer's.
TPIMS scientists are internationally recognized as innovators in the field of
combinatorial methods. TPIMS has collaborations and research agreements with
universities, pharmaceutical companies and research institutes worldwide.
Trega Biosciences is a drug discovery company, utilizing combinatorial
chemistry and other technologies to pursue the discovery of novel, small-
molecule drug therapies. The company leverages its technology platform by
entering into pharmaceutical alliances, enabling partners to access Trega's
technologies in exchange for licensing fees and potential milestones and
royalties, or by establishing joint-discovery alliances with pharmaceutical
and biotechnology companies. Trega also uses its drug discovery technologies
in its internal development programs, which are focused today on discovering
small molecules acting on melanocortin receptors. Melanocortins are a newly
discovered receptor pathway for the treatment of inflammatory and metabolic
diseases.
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 any proposed product can be
successfully formulated, scaled-up, developed, and commercialized, whether
regulatory approvals can be obtained, the impact of competitive products and
pricing, whether any 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.
SOURCE Trega Biosciences
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Related links:
http://www.trega.com
CONTACT:
Noel M. Wheeler, Director, Corporate
Communications of Trega Biosciences, Inc., 619-455-2877; or Peggy
Totzke, Chief Financial Officer of TPIMS, 619-455-3811
CNOC: http://www.prnewswire.com or fax, 800-758-5804, ext.
374050
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