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Axiom Will Adapt Screening Technology to Bioinformatics Database

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SAN DIEGO--Axiom Biotech nolo gies has announced plans to use its proprietary High-Throughput Pharmacological Screening (HT-PS) system technology as a platform to develop a new bioinformatics resource, the PharmaProfile database. The database would correlate chemical structures with potential biological activity, potency, and selectivity, enabling drug research ers to rapidly evaluate drug candidate feasibility and accelerate the enhancement of lead potency and specificity by directing compound optimization strategies, according to the company.

The first HT-PS system is scheduled to be delivered and licensed to Cadus Pharmaceutical Corp., Tarrytown, N.Y., after Cadus invested $2 million in Axiom's preferred stock. The investment represents approximately a 26 percent stake in Axiom. If Cadus receives and accepts the system within a contractually specified time, it will buy another $2 million in preferred stock, raising its share of Axiom to 38 percent.

Cadus is engaged in the discovery of novel small-molecule therapeutics, with a particular emphasis on the development of proprietary technologies that exploit the similarities between yeast and human genomes. Axiom's primary focus is accelerating the drug development process through high-throughput pharmacological screening and more efficient lead compound optimization. The proprietary HT-PS system measures immediate physiological responses of human cells, automating the process of assessing the pharmacological properties of potential therapeutic compounds, according to Axiom.

In conjunction with Cadus's investment in Axiom, Jeremy Levin and Philip Sussman, respectively Cadus's CEO and vice-president of corporate development, were appointed to Axiom's board of directors, where they join Pandi Veerapandian and Ilya Okun, Axiom's president and chief scientific officer, and vice-president of pharmacology.

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