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SENOMYX, INC. ANNOUNCES AGREEMENT WITH INCYTE GENOMICS, INC.
Senomyx,SM Inc. to license Incyte's gene sequence database for the discovery of genes involved in taste and olfaction.
Palo Alto, CA, and La Jolla, CA (January 4, 2001) – Incyte Genomics, Inc. (Nasdaq: INCY), the leading genomic information company, and Senomyx, Inc. announced today that Senomyx has licensed Incyte's gene sequence databases for use in the discovery of genes involved in taste, olfaction, and the detection of pheromones which will be used by Senomyx to discover flavor and fragrance molecules for the enhancement of consumer products. As part of the agreement, in specific situations, Senomyx will have the ability to take exclusive licenses to certain Incyte gene patents specifically for the commercialization of flavor and fragrance related products. Financial terms were not disclosed.
Along with a significant intellectual property portfolio of genes, Incyte has provided Senomyx with a license to Incyte's industry-leading LifeSeq® Gold gene sequence database and Incyte's ZooSeqTM animal model database for discoveries relating to the flavor and fragrance field. During the multi-year agreement Senomyx will have the opportunity to leverage Incyte's industry-leading bioinformatics capabilities to aid Senomyx in the discovery of additional proteins that play a role in taste and smell to accelerate Senomyx's discovery of small molecules that modulate taste and smell.
"This agreement is the first under Incyte technology specifically focused on the discovery of consumer products enhancing taste and olfaction. This is an opportunity to leverage Incyte's industry-leading genomic technology platform into the more than $900 billion commercial product market, including foods, beverages, personal care products, home care products, and fine fragrances," said Roy A. Whitfield, Chief Executive Officer of Incyte. "Senomyx's novel approach makes available to consumer product manufacturers the recent revolutionary advances in genomics and biotechnology. This collaboration with Senomyx is another example of how Incyte's technologies can provide value and create new commercial opportunities."
"Leading pharmaceutical companies have been very successful in using the interaction between drug candidate molecules and human protein targets encoded in our genome to create safer and more effective drugs. Senomyx's goal is to mirror this success to create safer and more effective consumer products. For the first time, Incyte's powerful technology will be applied to this arena," said Paul A. Grayson, President and Chief Executive Officer of Senomyx. "Our unique technology platform is designed to make novel consumer products based on the recent advances in biotechnology, specifically the understanding of the human genome and the molecular basis of chemosensation. The collaboration with Incyte will strengthen our unique position of bringing the power of biotechnology to the consumer product industry."
Incyte Genomics, Inc. is the leading provider of an integrated platform of genomic technologies designed to aid in the understanding of the molecular basis of disease. Incyte develops and markets genomic databases and partnership programs, genomic data management software, microarray-based gene expression services, related reagents and services. These products, programs and services assist pharmaceutical and biotechnology researchers with all phases of drug discovery and development including gene discovery, understanding disease pathways, identifying new disease targets and the discovery and correlation of gene sequence variation to disease. For more information, visit Incyte's web site at http://www.incyte.com.
SenomyxSM, Inc. (www.senomyx.com) is dedicated to becoming the world leader in the discovery and commercialization of products and services relevant to the biology, genomics, and chemistry of chemosensation in a broad range of potential markets including consumer foods, fragrances, therapeutic, and industrial applications. Senomyx is assembling a matrix of technologies, including proprietary chemoreceptors involved in the detection, quantification, signal transduction and perception of mediators and modulators of taste, olfaction and other sensory modalities. Senomyx has exclusive licenses and research collaboration agreements with Kraft Foods, Inc. (NYSE: MO), Aurora Biosciences Corporation (NASDAQ: ABSC) and Incyte Genomics, Inc. (NASDAQ: INCY) and exclusive licenses with Harvard University, Johns Hopkins University, Rockefeller University and the University of California regarding various enabling technologies in the field of chemosensation. Senomyx's goal is to use recent advances in cellular and molecular biology, genomics, combinatorial chemistry, biomolecular screening, informatics and other areas to create the first consumer genomics company that will enrich the quality of life for consumers.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts, including our outlook on the future performance of our core businesses and our growth strategies, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, dependence on continued funding of U.S. Department of Defense programs, government contract procurement and termination risks, risks associated with acquiring other companies, including integration risks, and other risks described in the Company's Securities and Exchange Commission filings.
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