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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO
SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): APRIL 3, 2000
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GENOME THERAPEUTICS CORP.
(Exact name of registrant as specified in its charter)
MASSACHUSETTS 0-10824 04-2297484
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification Number)
100 BEAVER STREET
WALTHAM, MASSACHUSETTS 02453
(Address, of principal executive offices, including zip code)
(781) 398-2300
(Registrant's Telephone number including area code)
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Item 5. OTHER EVENTS
On April 3, 2000, Genome Therapeutics Corp. issued a press release
announcing that it had entered into a collaboration with Compugen Inc.'s
LabOnWeb.com to establish Internet-based access to Genome Therapeutics'
proprietary PathoGenome-TM- Database. A copy of this press release is
attached to this Current Report on Form 8-K as Exhibit 99.1
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SIGNATURES
PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934,
THE REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE
UNDERSIGNED HEREUNTO DULY AUTHORIZED.
GENOME THERAPEUTICS CORP.
BY /s/ Philip V. Holberton
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TITLE: CHIEF FINANCIAL OFFICER
DATE: APRIL 3, 2000
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EXHIBIT INDEX
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<S> <C>
99.1 Press Release dated April 3, 2000
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EXHIBIT 99.1
(LETTERHEAD)
FOR IMMEDIATE RELEASE
Genome Therapeutics to Make Proprietary PathoGenome-TM- Database
Available to Researchers Worldwide via Internet using
Compugen's Web Research Engine WWW.LABONWEB.COM
- GLOBAL ACCESS TO DRUG DISCOVERY TARGETS FOR NEW ANTIBIOTICS
AND ANTIFUNGAL PRODUCTS -
WALTHAM, MASS. AND JAMESBURG, N.J., APRIL 3, 2000 -- Genome Therapeutics
Corp. (Nasdaq: GENE) announced today that it has entered into a collaboration
with Compugen Inc.'s LABONWEB.COM to establish Internet-based access to
Genome Therapeutics' proprietary PathoGenome-TM- Database. The collaboration
will provide scientists worldwide with access to the most comprehensive
source of DNA sequence information on some of the most medically important
microbial organisms to accelerate the discovery of new anti-infective
products. Under terms of the agreement, Compugen will have exclusive rights
to make Genome Therapeutics' PathoGenome-TM- Database available over the
Internet. Genome Therapeutics and Compugen will share revenue generated by
customers who use PathoGenome-TM-Database data from LABONWEB.COM. Other
financial details were not disclosed.
The need for new antibiotics is urgent as drug-resistant bacteria infect
nearly 9 million people in the United States each year and are the cause of
death for approximately 60,000 of these individuals. The PathoGenome-TM-
Database helps customers facilitate the drug discovery process by providing
potential drug targets for new anti-infectives derived from high-quality DNA
sequences, annotation, search tools and a powerful bioinformatics
platform.LABONWEB.COM enhances gene exploration and discovery and provides
users within the mobile life science community with access to the most
comprehensive and up-to-date life science data and technology.
"This collaboration accomplishes our goal of bringing a powerful
anti-infectives discovery tool to the entire universe of researchers - from
major pharmaceutical and biopharmaceutical companies to smaller specialized
companies or research facilities," said Dr. Richard D. Gill, President and
COO of Genome Therapeutics. "We believe that Compugen's LabOnWeb.com can
combine software and algorithm development expertise and access to other
scientific databases to build a substantial e-commerce business focusing on
the distribution of important scientific information."
"Since its launch in late 1999, our LabOnWeb.com web research engine has been
enthusiastically received by the life science research community and usage,
especially from researchers who use it once and return again and again,
continues to rise dramatically," said Martin Gerstel, Compugen Chairman. "We
believe the PathoGenome-TM- Database - which provides detailed DNA sequence
information about microbial organisms and fungi- will be a very valuable
addition to LabOnWeb.com's content offerings."
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PATHOGENOME-TM- DATABASE
Launched in 1997, the PathoGenome-TM- Database is one of the most comprehensive
commercial sources of microbial genomic information available. It provides
customers with a large volume of highly organized and functionally annotated
sequence information about more than 30 of the most medically important
microbial organisms, including STAPHYLOCOCCUS, PSEUDOMONAS, STREPTOCOCCUS,
ENTEROCOCCUS and CANDIDA species.
The non-exclusive database was originally designed for use at the client site
utilizing proprietary bioinformatics software developed at Genome Therapeutics.
Subscription customers with on-site access for extensive searching and analysis
include: Aventis, Bayer, bioMerieux, Bristol-Myers Squibb, Schering-Plough and
Scriptgen. The Company plans on adding new sequence data and continuing to
enhance the graphical interface of the database during the coming year.
LABONWEB.COM
In December 1999, Compugen launched LABONWEB.COM, the first web-based research
engine that provides life science researchers with access to Compugen's unique
algorithms and proprietary data as well as public data.LABONWEB.COM has already
proven to be an invaluable tool for scientists worldwide, and is being developed
rapidly to accommodate a growing number of research tools and databases for a
wide scope of applications.
Utilizing proprietary data and analysis tools,LABONWEB.COM is a vital research
booster and enhancement engine. It significantly broadens access to scientific
knowledge based on public and proprietary experimental data, computational
research technologies, molecular biology techniques and the Internet's powerful
channels of communications.
Compugen's LabOnWeb is also collaborating with Genzyme Molecular Oncology to
provide researchers with exclusive high quality gene expression data including
GMO's SAGE data on LabOnWeb.com.
GENOME THERAPEUTICS BACKGROUND
Genome Therapeutics (WWW.GENOMECORP.COM) is a leader in the commercialization of
genomics-based drug discovery. The Company's gene discovery strategy is to
identify and characterize human genes associated with major diseases and
elucidate microbial genes as novel drug targets against many serious infectious
organisms. Together with its strategic partners, including Schering-Plough,
AstraZeneca, Wyeth-Ayerst and bioMerieux, Genome Therapeutics is using genomic
information to develop a new generation of genomics-based pharmaceutical,
vaccine and diagnostic products.
COMPUGEN BACKGROUND
Compugen (WWW.CGEN.COM) is a world leader in the development and utilization of
advanced computational technologies for genomic and proteomic research. The core
technologies of the company result from a multidisciplinary research effort
combining advanced mathematics and related disciplines with molecular biology.
The company's proprietary products and services, designed to significantly
enhance life science research, are commercialized to other organizations in the
form of Corporate Solutions, such as the LEADS platform, and to individual life
scientists worldwide over the company's internet research engine, LabOnWeb.com.
STATEMENTS IN THIS PRESS RELEASE THAT ARE NOT STRICTLY HISTORICAL ARE "FORWARD
LOOKING" STATEMENTS AS DEFINED IN THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995. A NUMBER OF IMPORTANT FACTORS COULD CAUSE ACTUAL RESULTS TO DIFFER
MATERIALLY FROM THOSE PROJECTED OR SUGGESTED IN THE FORWARD LOOKING STATEMENT
INCLUDING, BUT NOT LIMITED TO, THE ABILITY OF THE COMPANY AND ITS ALLIANCE
PARTNERS TO (I) SUCCESSFULLY DEVELOP PRODUCTS BASED ON THE COMPANY'S GENOMIC
INFORMATION, (II) OBTAIN THE NECESSARY GOVERNMENTAL APPROVALS, (III) EFFECTIVELY
COMMERCIALIZE ANY PRODUCTS DEVELOPED BEFORE ITS COMPETITORS AND (IV) OBTAIN AND
ENFORCE INTELLECTUAL PROPERTY RIGHTS, AS WELL AS THE RISK FACTORS DESCRIBED IN
THE COMPANY'S ANNUAL REPORT ON FORM 10-K AS AMENDED.
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