Cubist Pharmaceuticals Announces Achievement of First Milestone in Gilead Sciences Collaboration

Achievement of Primary Efficacy Endpoint in Cidecin(TM) Study 9901 Triggers

$1.25 Million Payment



Apr 10, 2001, 01:00 ET from Cubist Pharmaceuticals, Inc.

    CAMBRIDGE, Mass., April 10 /PRNewswire/ -- Cubist Pharmaceuticals, Inc.
 (Nasdaq: CBST) today announced the achievement of the first milestone in its
 collaboration with Gilead Sciences (Nasdaq: GILD), following the successful
 completion of Study 9901, Cubist's pivotal Phase III trial examining the
 safety and efficacy of its investigational antibiotic Cidecin(TM) (daptomycin
 for injection) in the treatment of complicated skin and soft tissue infection
 caused by Gram-positive bacteria.  Upon review of the data from Study 9901,
 Gilead has agreed to pay Cubist $1.25 million for meeting the primary endpoint
 of the clinical trial.
      In January 2001, Cubist and Gilead jointly announced the signing of a
 licensing agreement for the exclusive rights to commercialize Cidecin and oral
 daptomycin in 16 European countries following regulatory approval.  Per the
 agreement, Gilead paid Cubist an up-front licensing fee of $13 million, and
 Cubist is entitled to receive additional cash payments of up to $31 million
 upon achievement of certain clinical and regulatory milestones.  Gilead will
 also pay Cubist a fixed royalty on net sales.
      Cubist will continue to be responsible for worldwide clinical development
 of Cidecin and oral daptomycin, while Gilead will be responsible for any
 regulatory filings in the covered territories.  Gilead's sales force will
 market the products in Europe.  Cubist will provide European Medical Science
 Liaisons who will support the product by providing medical education services
 to infectious disease specialists and other international opinion leaders.
      Cubist Pharmaceuticals, Inc. is focused on becoming a global leader in
 the research, development and commercialization of novel antimicrobial drugs
 to combat serious and life-threatening bacterial and fungal infections.
 Cubist is evaluating the safety and efficacy of Cidecin(TM) (daptomycin for
 injection) in the EDGE(TM) (Evaluation of Daptomycin against Gram-positive
 Entities) clinical trial program and has broadened its pipeline to include
 multiple pre-clinical drug candidates.  The Company is engaged in strategic
 partnerships with Novartis Pharma AG and Merck & Co for the discovery and
 development of novel antiinfectives and with Gilead Sciences for the
 commercialization of daptomycin in Europe.  Cubist is headquartered in
 Cambridge, MA and has operations in Vancouver, BC, Canada and Slough, UK.
 
      Cubist Safeharbor Statement
      Statements contained herein that are not historical fact may be forward-
 looking statements within the meaning of Section 27A of the Securities Act of
 1933 and Section 21E of the Securities Exchange Act of 1934, that are subject
 to a variety of risks and uncertainties.  There are a number of important
 factors that could cause actual results to differ materially from those
 projected or suggested in any forward-looking statements made by the Company.
 These factors include, but are not limited to: (i) the Company's ability to
 successfully complete product research and development, including pre-clinical
 and clinical studies and commercialization;  (ii) the Company's ability to
 obtain required governmental approvals; (iii) the Company's ability to attract
 and/or maintain manufacturing, sales, distribution and marketing partners; and
 (iv) the Company's ability to develop and commercialize its products before
 its competitors.  Additional factors that would cause actual results to differ
 materially from those projected or suggested in any forward-looking statements
 are contained in the Company's filings with the Securities and Exchange
 Commission, including those factors discussed under the caption "Risk Factors"
 in the Company's Annual Report on Form 10-K filed on April 2, 2001.
 
      Contacts:
      Cubist Pharmaceuticals, Inc.
      Jennifer LaVin
      Senior Director, Corporate Communications
      (617) 576-4258
      jlavin@cubist.com
 
      Noonan/Russo Communications
      Renee Connolly - media
      (212) 696-4455 ext. 227
      renee@noonanrusso.com
 
 

SOURCE Cubist Pharmaceuticals, Inc.
    CAMBRIDGE, Mass., April 10 /PRNewswire/ -- Cubist Pharmaceuticals, Inc.
 (Nasdaq: CBST) today announced the achievement of the first milestone in its
 collaboration with Gilead Sciences (Nasdaq: GILD), following the successful
 completion of Study 9901, Cubist's pivotal Phase III trial examining the
 safety and efficacy of its investigational antibiotic Cidecin(TM) (daptomycin
 for injection) in the treatment of complicated skin and soft tissue infection
 caused by Gram-positive bacteria.  Upon review of the data from Study 9901,
 Gilead has agreed to pay Cubist $1.25 million for meeting the primary endpoint
 of the clinical trial.
      In January 2001, Cubist and Gilead jointly announced the signing of a
 licensing agreement for the exclusive rights to commercialize Cidecin and oral
 daptomycin in 16 European countries following regulatory approval.  Per the
 agreement, Gilead paid Cubist an up-front licensing fee of $13 million, and
 Cubist is entitled to receive additional cash payments of up to $31 million
 upon achievement of certain clinical and regulatory milestones.  Gilead will
 also pay Cubist a fixed royalty on net sales.
      Cubist will continue to be responsible for worldwide clinical development
 of Cidecin and oral daptomycin, while Gilead will be responsible for any
 regulatory filings in the covered territories.  Gilead's sales force will
 market the products in Europe.  Cubist will provide European Medical Science
 Liaisons who will support the product by providing medical education services
 to infectious disease specialists and other international opinion leaders.
      Cubist Pharmaceuticals, Inc. is focused on becoming a global leader in
 the research, development and commercialization of novel antimicrobial drugs
 to combat serious and life-threatening bacterial and fungal infections.
 Cubist is evaluating the safety and efficacy of Cidecin(TM) (daptomycin for
 injection) in the EDGE(TM) (Evaluation of Daptomycin against Gram-positive
 Entities) clinical trial program and has broadened its pipeline to include
 multiple pre-clinical drug candidates.  The Company is engaged in strategic
 partnerships with Novartis Pharma AG and Merck & Co for the discovery and
 development of novel antiinfectives and with Gilead Sciences for the
 commercialization of daptomycin in Europe.  Cubist is headquartered in
 Cambridge, MA and has operations in Vancouver, BC, Canada and Slough, UK.
 
      Cubist Safeharbor Statement
      Statements contained herein that are not historical fact may be forward-
 looking statements within the meaning of Section 27A of the Securities Act of
 1933 and Section 21E of the Securities Exchange Act of 1934, that are subject
 to a variety of risks and uncertainties.  There are a number of important
 factors that could cause actual results to differ materially from those
 projected or suggested in any forward-looking statements made by the Company.
 These factors include, but are not limited to: (i) the Company's ability to
 successfully complete product research and development, including pre-clinical
 and clinical studies and commercialization;  (ii) the Company's ability to
 obtain required governmental approvals; (iii) the Company's ability to attract
 and/or maintain manufacturing, sales, distribution and marketing partners; and
 (iv) the Company's ability to develop and commercialize its products before
 its competitors.  Additional factors that would cause actual results to differ
 materially from those projected or suggested in any forward-looking statements
 are contained in the Company's filings with the Securities and Exchange
 Commission, including those factors discussed under the caption "Risk Factors"
 in the Company's Annual Report on Form 10-K filed on April 2, 2001.
 
      Contacts:
      Cubist Pharmaceuticals, Inc.
      Jennifer LaVin
      Senior Director, Corporate Communications
      (617) 576-4258
      jlavin@cubist.com
 
      Noonan/Russo Communications
      Renee Connolly - media
      (212) 696-4455 ext. 227
      renee@noonanrusso.com
 
 SOURCE  Cubist Pharmaceuticals, Inc.

RELATED LINKS

http://www.cubist.com