Aurora Biosciences Adopts Stockholder Rights Plan

Apr 03, 2001, 01:00 ET from Aurora Biosciences Corporation

    SAN DIEGO, April 3 /PRNewswire/ --
 Aurora Biosciences Corporation (Nasdaq: ABSC) announced that its Board of
 Directors approved the adoption of a Stockholder Rights Plan under which all
 stockholders of record as of April 17, 2001 will receive rights to purchase
 shares of a new series of Preferred Stock.
     The Rights Plan is designed to enable all Aurora stockholders to realize
 the full value of their investment and to provide for fair and equal treatment
 for all stockholders in the event that an unsolicited attempt is made to
 acquire Aurora.  The adoption of the Rights Plan is intended as a means to
 guard against abusive takeover tactics.
     The rights will be distributed as a non-taxable dividend and will expire
 ten years from the date of adoption of the Rights Plan.  The rights will be
 exercisable only if a person or group acquires 15 percent or more of Aurora's
 Common Stock.  If a person acquires 15 percent or more of Aurora's Common
 Stock, all rights holders except the buyer will be entitled to acquire Aurora
 Common Stock at a discount.  The effect will be to discourage acquisitions of
 15 percent or more of Aurora's Common Stock without negotiations with the
 Board.
     The rights will trade with Aurora's Common Stock, unless and until they
 are separated upon the occurrence of certain future events.  Aurora's Board of
 Directors may terminate the Rights Plan at any time or redeem the rights prior
 to the time a person acquires 15 percent or more of Aurora's Common Stock.
 Additional details regarding the Rights Plan will be outlined in a summary to
 be mailed to all stockholders following the Record Date.
 
     Aurora Biosciences(R) develops and commercializes technologies, products
 and services to accelerate the discovery of new medicines.  Our core
 technologies include a broad portfolio of proprietary fluorescence assay
 technologies and screening platforms designed to provide an integrated
 solution for drug discovery.  Our fluorescence assay technologies include our
 GeneBLAzer(TM), GenomeScreen(TM), PhosphoryLIGHT(TM) and Vivid(TM)
 technologies, as well as a broad collection of fluorescent proteins.  Our
 screening platforms include our ultra-high throughput screening system, the
 UHTSS(R) Platform, our automated master compound store, the AMCS, and our ion
 channel technology screening platform, which includes our proprietary voltage
 sensor probes and voltage ion probe reader, the VIPR(TM) subsystem.  We also
 provide assay development and screening services as part of our drug discovery
 collaborations.  Our Big Biology(TM) initiative is an internal drug discovery
 program focused on the identification of promising preclinical candidates
 within all major classes of gene targets.  Our technologies and drug discovery
 capabilities have been commercially validated by over 20 major life sciences
 companies and research organizations, including American Home Products,
 Bristol-Myers Squibb Co., Ceres, Inc., Cystic Fibrosis Foundation, Eli Lilly &
 Co., Families of SMA, GlaxoSmithKline, Genentech, Inc., Johnson & Johnson,
 Merck & Co., Inc., NV Organon Laboratories, Pfizer, Inc., Pharmacia and Roche,
 in the form of commercialization agreements for discovery collaborations,
 research services, licenses or systems.  For additional information on
 Aurora's services and products, please contact Sales and Marketing via email
 at marcom@aurorabio.com.
 
     Statements in this press release that are not strictly historical are
 "forward-looking" statements which involve a high degree of technological and
 competitive risks and uncertainties that exist in Aurora's operations and
 business environment.  Such statements, including, without limitation,
 statements regarding the anticipated benefits and expected consequences of the
 Rights Plan and statements regarding the potential applications of Aurora's
 technologies are only predictions and Aurora's actual events or results may
 differ materially from those projected in such forward-looking statements.
 Factors that could cause or contribute to differences include Aurora's ability
 to develop and commercialize new technologies as well as commercial acceptance
 of such technologies, Aurora's ability to rapidly identify promising drug
 candidates through its Big Biology initiative, Aurora's dependence on patents
 and proprietary rights, Aurora's ability to generate additional sales of
 products and services, Aurora's dependence on pharmaceutical and biotechnology
 collaborations and the development or availability of competing technologies,
 products or services.  These factors and others are more fully described in
 Aurora's Annual Report on Form 10-K for the fiscal year ended December 31,
 2000, as filed with the Securities and Exchange Commission.  For additional
 corporate information, visit the Aurora website at http://www.aurorabio.com.
 
     Aurora Biosciences(R), Big Biology(TM), GeneBLAzer(TM), GenomeScreen(TM),
 PhosphoryLIGHT(TM), UHTSS(R), VIPR(TM) and Vivid(TM) are trademarks of Aurora
 Corporation.
 
 

SOURCE Aurora Biosciences Corporation
    SAN DIEGO, April 3 /PRNewswire/ --
 Aurora Biosciences Corporation (Nasdaq: ABSC) announced that its Board of
 Directors approved the adoption of a Stockholder Rights Plan under which all
 stockholders of record as of April 17, 2001 will receive rights to purchase
 shares of a new series of Preferred Stock.
     The Rights Plan is designed to enable all Aurora stockholders to realize
 the full value of their investment and to provide for fair and equal treatment
 for all stockholders in the event that an unsolicited attempt is made to
 acquire Aurora.  The adoption of the Rights Plan is intended as a means to
 guard against abusive takeover tactics.
     The rights will be distributed as a non-taxable dividend and will expire
 ten years from the date of adoption of the Rights Plan.  The rights will be
 exercisable only if a person or group acquires 15 percent or more of Aurora's
 Common Stock.  If a person acquires 15 percent or more of Aurora's Common
 Stock, all rights holders except the buyer will be entitled to acquire Aurora
 Common Stock at a discount.  The effect will be to discourage acquisitions of
 15 percent or more of Aurora's Common Stock without negotiations with the
 Board.
     The rights will trade with Aurora's Common Stock, unless and until they
 are separated upon the occurrence of certain future events.  Aurora's Board of
 Directors may terminate the Rights Plan at any time or redeem the rights prior
 to the time a person acquires 15 percent or more of Aurora's Common Stock.
 Additional details regarding the Rights Plan will be outlined in a summary to
 be mailed to all stockholders following the Record Date.
 
     Aurora Biosciences(R) develops and commercializes technologies, products
 and services to accelerate the discovery of new medicines.  Our core
 technologies include a broad portfolio of proprietary fluorescence assay
 technologies and screening platforms designed to provide an integrated
 solution for drug discovery.  Our fluorescence assay technologies include our
 GeneBLAzer(TM), GenomeScreen(TM), PhosphoryLIGHT(TM) and Vivid(TM)
 technologies, as well as a broad collection of fluorescent proteins.  Our
 screening platforms include our ultra-high throughput screening system, the
 UHTSS(R) Platform, our automated master compound store, the AMCS, and our ion
 channel technology screening platform, which includes our proprietary voltage
 sensor probes and voltage ion probe reader, the VIPR(TM) subsystem.  We also
 provide assay development and screening services as part of our drug discovery
 collaborations.  Our Big Biology(TM) initiative is an internal drug discovery
 program focused on the identification of promising preclinical candidates
 within all major classes of gene targets.  Our technologies and drug discovery
 capabilities have been commercially validated by over 20 major life sciences
 companies and research organizations, including American Home Products,
 Bristol-Myers Squibb Co., Ceres, Inc., Cystic Fibrosis Foundation, Eli Lilly &
 Co., Families of SMA, GlaxoSmithKline, Genentech, Inc., Johnson & Johnson,
 Merck & Co., Inc., NV Organon Laboratories, Pfizer, Inc., Pharmacia and Roche,
 in the form of commercialization agreements for discovery collaborations,
 research services, licenses or systems.  For additional information on
 Aurora's services and products, please contact Sales and Marketing via email
 at marcom@aurorabio.com.
 
     Statements in this press release that are not strictly historical are
 "forward-looking" statements which involve a high degree of technological and
 competitive risks and uncertainties that exist in Aurora's operations and
 business environment.  Such statements, including, without limitation,
 statements regarding the anticipated benefits and expected consequences of the
 Rights Plan and statements regarding the potential applications of Aurora's
 technologies are only predictions and Aurora's actual events or results may
 differ materially from those projected in such forward-looking statements.
 Factors that could cause or contribute to differences include Aurora's ability
 to develop and commercialize new technologies as well as commercial acceptance
 of such technologies, Aurora's ability to rapidly identify promising drug
 candidates through its Big Biology initiative, Aurora's dependence on patents
 and proprietary rights, Aurora's ability to generate additional sales of
 products and services, Aurora's dependence on pharmaceutical and biotechnology
 collaborations and the development or availability of competing technologies,
 products or services.  These factors and others are more fully described in
 Aurora's Annual Report on Form 10-K for the fiscal year ended December 31,
 2000, as filed with the Securities and Exchange Commission.  For additional
 corporate information, visit the Aurora website at http://www.aurorabio.com.
 
     Aurora Biosciences(R), Big Biology(TM), GeneBLAzer(TM), GenomeScreen(TM),
 PhosphoryLIGHT(TM), UHTSS(R), VIPR(TM) and Vivid(TM) are trademarks of Aurora
 Corporation.
 
 SOURCE  Aurora Biosciences Corporation