m-phasys and Graffinity Pharmaceutical Design Announce Alliance for Novel Drug Discovery Platform for GPCRs

Apr 24, 2001, 01:00 ET from m-phasys GmbH from ,Graffinity Pharmaceutical Design GmbH

    TUBINGEN and HEIDELBERG, Germany, April 24 /PRNewswire/ -- m-phasys GmbH
 and Graffinity Pharmaceutical Design GmbH today announced an alliance aimed at
 the development and joint marketing of a novel drug discovery platform for
 GPCRs (G protein coupled receptors).  The companies will offer an integrated
 discovery platform consisting of m-phasys' M-FOLD refolding technology for
 GPCRs and Graffinity's chemical microarray aided drug discovery technology.
     Collaborators will be able to work with m-phasys and Graffinity throughout
 the drug discovery process from target gene expression through to advanced
 lead development.  Financial terms were not disclosed.
     "The human genome project brought us several hundred potential GPCR
 targets for drug discovery.  Our alliance with m-phasys will now allow us to
 address this important market and deliver novel drug leads for GPCRs to our
 clients much more rapidly and efficiently when compared to the traditional
 drug discovery methods," says Dr. Dirk Vetter, CEO and co-founder of
 Graffinity.
     Dr. Wolfgang Arndt, COO and co-founder of m-phasys stated: "Small
 molecules interacting with GPCRs are historically the most potent
 pharmaceutical drugs.  The alliance with Graffinity gives us the opportunity
 to generate small molecules as lead compounds targeting GPCRs and will add
 tremendous value to our Compound Generation Network."
     The announcement of a joint technology offering by m-phasys and Graffinity
 follows extensive technology development by the two companies after signing a
 letter of intent in February 2001.
 
     Notes:
 
     m-phasys
     The vision of m-phasys is to become the leading company for membrane
 protein drug discovery.  Based on its proprietary M-FOLD refolding technology
 capable of producing large amounts of highly purified membrane proteins out of
 bacterial cultures, m-phasys has identified two business units:
 
     1. Lead Discovery Tools
     Based on the refolded proteins, m-phasys offers the development of lead
     discovery tools to the Life Science Industry.  First industrial partner is
     GlaxoSmithKline, UK.
 
     2. Compound Generation Network
     m-phasys builds an alliance network of biotech companies with
     complementary technologies to M-FOLD with the goal to generate lead
     compounds for industrial clients.  First alliance contract recently signed
     with Cosmix molecular biochemicals, Germany.
 
     Graffinity is a German biotech company based in Heidelberg that has taken
 an innovative approach to drug discovery which will significantly speed up the
 identification of lead structures.  Graffinity's technology platform
 integrates chemical microarrays and a novel label-free methodology which
 allows the standardised analysis of proteins with numerous small organic
 molecules.  During the RAISE process molecules are further developed to
 interact selectively and with high affinity with the target protein.
     Graffinity is looking for long-term partnerships with pharmaceutical,
 biotech and agrochemical companies exploiting the full potential of its lead
 generating platform.
 
     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 both, m-phasys as well as
 Graffinity's operations and business environment.
 
     For additional corporate information, visit the websites
      www.m-phasys.com
      www.graffinity.com
 
 

SOURCE m-phasys GmbH; Graffinity Pharmaceutical Design GmbH
    TUBINGEN and HEIDELBERG, Germany, April 24 /PRNewswire/ -- m-phasys GmbH
 and Graffinity Pharmaceutical Design GmbH today announced an alliance aimed at
 the development and joint marketing of a novel drug discovery platform for
 GPCRs (G protein coupled receptors).  The companies will offer an integrated
 discovery platform consisting of m-phasys' M-FOLD refolding technology for
 GPCRs and Graffinity's chemical microarray aided drug discovery technology.
     Collaborators will be able to work with m-phasys and Graffinity throughout
 the drug discovery process from target gene expression through to advanced
 lead development.  Financial terms were not disclosed.
     "The human genome project brought us several hundred potential GPCR
 targets for drug discovery.  Our alliance with m-phasys will now allow us to
 address this important market and deliver novel drug leads for GPCRs to our
 clients much more rapidly and efficiently when compared to the traditional
 drug discovery methods," says Dr. Dirk Vetter, CEO and co-founder of
 Graffinity.
     Dr. Wolfgang Arndt, COO and co-founder of m-phasys stated: "Small
 molecules interacting with GPCRs are historically the most potent
 pharmaceutical drugs.  The alliance with Graffinity gives us the opportunity
 to generate small molecules as lead compounds targeting GPCRs and will add
 tremendous value to our Compound Generation Network."
     The announcement of a joint technology offering by m-phasys and Graffinity
 follows extensive technology development by the two companies after signing a
 letter of intent in February 2001.
 
     Notes:
 
     m-phasys
     The vision of m-phasys is to become the leading company for membrane
 protein drug discovery.  Based on its proprietary M-FOLD refolding technology
 capable of producing large amounts of highly purified membrane proteins out of
 bacterial cultures, m-phasys has identified two business units:
 
     1. Lead Discovery Tools
     Based on the refolded proteins, m-phasys offers the development of lead
     discovery tools to the Life Science Industry.  First industrial partner is
     GlaxoSmithKline, UK.
 
     2. Compound Generation Network
     m-phasys builds an alliance network of biotech companies with
     complementary technologies to M-FOLD with the goal to generate lead
     compounds for industrial clients.  First alliance contract recently signed
     with Cosmix molecular biochemicals, Germany.
 
     Graffinity is a German biotech company based in Heidelberg that has taken
 an innovative approach to drug discovery which will significantly speed up the
 identification of lead structures.  Graffinity's technology platform
 integrates chemical microarrays and a novel label-free methodology which
 allows the standardised analysis of proteins with numerous small organic
 molecules.  During the RAISE process molecules are further developed to
 interact selectively and with high affinity with the target protein.
     Graffinity is looking for long-term partnerships with pharmaceutical,
 biotech and agrochemical companies exploiting the full potential of its lead
 generating platform.
 
     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 both, m-phasys as well as
 Graffinity's operations and business environment.
 
     For additional corporate information, visit the websites
      www.m-phasys.com
      www.graffinity.com
 
 SOURCE  m-phasys GmbH; Graffinity Pharmaceutical Design GmbH