June 10, 2002
Anadys Forms Collaboration With Gilead to Discover Novel Antiviral Compounds; Anadys' uHTS-ATLAS to be Used to Screen Important and Challenging Viral Target
Under the terms of the agreement, Anadys will design and run uHTS-ATLAS(TM) assays against Gilead's compound collection. uHTS-ATLAS(TM) is Anadys' proprietary, fully-automated, affinity-based screening technology capable of screening 100,000 compounds in one day. The technology is capable of delivering this throughput using discrete compounds, mixtures or natural products against protein targets of either known or unknown function. Gilead will have exclusive rights to develop and commercialize any products resulting from compounds discovered in the collaboration.
"We are very pleased to collaborate with Gilead on this important and challenging viral target," said Dr. Steve Worland, Chief Scientific Officer of Anadys. "Gilead is viewed as one of the premier organizations involved in antiviral research, and their decision to employ uHTS-ATLAS(TM) is important validation for our technology. It also highlights one of the key advantages of our technology in that we can screen targets that have traditionally been a challenge."
"Gilead is committed to using state-of-the-art technologies to find novel medicines to combat viral infections," said Dr. William Lee, Senior Vice President, Research, Gilead Sciences. "After reviewing a number of screening technologies, we chose to apply uHTS-ATLAS(TM) to help us further advance this important program."
"The collaboration with Gilead further illustrates Anadys' overall commitment to broadening our efforts in the antiviral therapeutic area," said Michael Kamdar, Vice President of Corporate Development and Strategy for Anadys. "We look forward to building a long term relationship with Gilead, which has a strong record of developing and commercializing antiviral therapies."
Specific financial terms were not disclosed but they include an upfront payment, research success payments, R&D support, and potential for product milestone payments and royalties.
About Anadys Pharmaceuticals
For more information, please visit www.anadyspharma.com. About Gilead Sciences, Inc.
For more information, please visit www.gilead.com.
CONTACT: Anadys Pharmaceuticals, Inc. David M.K. Nelson, Ph.D., Associate Director, Corporate Development & Investor Relations 858/530-3600 www.anadyspharma.com or Gilead Sciences Susan Hubbard, Investor Relations, 650/522-5715 URL: http://www.businesswire.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page.
Copyright (C) 2002 Business Wire. All rights reserved.