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FOR IMMEDIATE RELEASE
Genome Therapeutics Acquires Option to Obtain Exclusive Access to Next
Generation SNP Detection Technology from Northeastern University
--SNP Technology to Enhance Pharmacogenomics Platform--
Waltham, Mass., June 7, 2000 -- Genome Therapeutics Corp. (Nasdaq: GENE)
today announced that the Company has secured rights to obtain worldwide
exclusive access to certain patented Single Nucleotide Polymorphisms (SNPs)
detection technology from Northeastern University. This SNP detection
technology has the potential to increase the utility of mass
spectrometry-based assays for genetic association studies, genotyping and
diagnostics. Genome Therapeutics believes this SNP detection technology will
enhance its technology platform focused on generating genomic information
relevant to the development of therapeutic products and pharmacogenomics.
In the past year, wider attention has been placed on SNPs and their potential
impact in the drug discovery process. DNA sequences from different
individuals contain many variations or polymorphisms. The most common type of
genetic variation, a SNP, involves a change of a single nucleotide or base in
DNA. SNPs play a significant role in determining susceptibility to disease,
as well as an individual's response to certain drugs because they may
contribute to the alteration of genes.
Under this agreement, Genome Therapeutics will fund a research program at
Northeastern University to develop electrophore mass tags, which use
differences in mass rather than fluorescence, as labels for DNA probes. Dr.
Roger Giese, Ph.D., Professor of the Bouve College and Barnett Institute at
Northeastern University - and inventor of the mass tag - will oversee the
direction of this research program. The option allows Genome Therapeutics to
acquire a license to advanced mass spectrometry-based detection tools which
are expected to provide an increased ability to track SNPs and enhance the
Company's ability to map disease genes, genetic traits and predisposition to
disease, as well as understand varied individual reactions to drug treatments.
"This agreement represents part of a long-term strategy to build on our
existing proprietary SNP detection methods and proprietary SNP assays," said
Richard D. Gill, Ph.D., President and COO of Genome Therapeutics. "Future
commercial applications of this technology exist through our GTC Sequencing
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Center business as well as through the Company's pharmacogenomics business
platform, Drug Rescue?. A solid patent portfolio, including eight issued
patents, supports this technology. This type of agreement exemplifies our
resolve to continue expending our intellectual property base in areas
critical to our strategic goals."
"The detection speed of this new technology compared with existing
technologies is like changing from a 4-lane highway to a 400-lane highway.
Since we can combine many tags simultaneously and measure rapidly by mass
spectrometry, we believe it represents a tremendous leap in speed and
reliability relative to conventional technology," said Dr. Giese. "Combining
this ultra-speed approach with Genome Therapeutics' very accurate biochemistry
and proprietary SNP detection technology provides an excellent route to
commercialization."
Genome Therapeutics currently provides sequenced-based SNP detection services
to customers through the GTC Sequencing Center. The Company also has a
patented exonuclease-based SNP assay technology with flourescence readout
that it makes available to its pharmaceutical partners through research
alliances. This new technology from Northeastern University strongly
compliments these existing capabilities, and provides a path to the next
generation of high-throughput SNP assays.
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.
Boston-based Northeastern University, a private, national research
institution, is a world leader in practice-oriented research and education.
Building on its flagship co-operative education program, Northeastern links
classroom learning with workplace and research experience and integrates
professional preparation with study in the liberal arts and sciences.
Representing a wide variety of cultural and ethnic groups, nearly 12,000
graduates and undergraduates come from throughout the United States and
dozens of other countries to experience Northeastern's dynamic learning
environment.
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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.
Contacts:
Christopher Taylor Douglas MacDougall
Director of Investor Relations Vice President
Genome Therapeutics Corp. Feinstein Dean Healthcare
(781) 398-2466 (617) 577-8110
