Peter G. Schultz to Head Novartis Institute for Functional Genomics; Award-Winning Researcher to Lead Active Discovery Group

Oct 28, 1998, 00:00 ET from Novartis Research Foundation

    BASEL, Switzerland, Oct. 28 /PRNewswire/ -- The Novartis Research
 Foundation today announced the appointment of Peter G. Schultz as Head of the
 Novartis Institute for Functional Genomics, one of the largest research
 institutes devoted entirely to functional genomics.
     Widely recognized for his pioneering work at the interface of chemistry
 and biology, Peter Schultz brings to Novartis more than 15 years of experience
 in the fields of organic chemistry and biomedical research.  Peter Schultz has
 received numerous awards including the Alan T. Waterman Award, NSF (1988), the
 ACS Award in Pure Chemistry (1990), and the Wolf Prize in Chemistry (1994); he
 is a member of the National Academy of Sciences and Institute of Medicine of
 the National Academy of Sciences.  Dr. Schultz will join Novartis on
 January 1, 1999 from the University of California, Berkeley, where he is
 currently Professor of Chemistry and Investigator, Howard Hughes Medical
     "By bringing together a group of highly creative chemists, biologists and
 engineers, and equipping them with powerful new genomic and chemical
 technologies, the institute will be a world-class leader in biomedical
 research," noted Dr. Schultz.
     Among Schultz' many accomplishments, his research team (simultaneously
 with Richard Lerner and coworkers) first reported the observation that
 antibodies could selectively catalyze chemical reactions.  He has played a key
 role in developing and applying combinatorial methods to problems in chemistry
 and biology.
     "Novartis is deeply committed to genomics research.  Dr. Schultz is a
 preeminent scientist, and under his direction, the institute will build a
 powerful technology platform and attract the finest researchers," stated
 Dr. Paul Herrling, worldwide Head of Discovery at Novartis Pharma.
     The formation of the Institute for Functional Genomics was announced in
 April 1998.  It will receive a total investment of USD 250 million in funding
 over 10 years, and will be adjacent to the planned Novartis Agricultural
 Discovery Institute and Scripps Research Institute in La Jolla, California.
     Novartis is a world leader in Life Sciences with core businesses in
 Healthcare, Agribusiness and Consumer Health (Self-Medication and Nutrition).
 In 1997, Novartis Group sales were 31.2 billion Swiss francs
 (USD 21.6 billion), of which 17.0 billion (USD 11.7 billion), were in
 Healthcare, 8.3 billion (USD 5.8 billion) in Agribusiness and 5.9 billion
 (USD 4.1 billion) in Consumer Health.  The group annually invests more than
 3.6 billion Swiss francs (USD 2.5 billion) in R&D.  Headquartered in Basel,
 Switzerland, Novartis employs about 86,000 people and operates in over
 100 countries around the world.
     For more information, contact Kate King for Novartis, 212-593-5823.

SOURCE Novartis Research Foundation