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Company Contact: Media Contacts:
Cengent Therapeutics, A New Drug Discovery Company, Is Formed by the Merger of Structural Bioinformatics and GeneFormatics SAN DIEGO -- May 19, 2003 -- Cengent Therapeutics, a new drug discovery company formed by the completion of the merger of Structural Bioinformatics and GeneFormatics, was
announced today. The California Department of Corporations and the shareholders of both companies have approved the merger. Cengent Therapeutics is a structure-guided drug discovery company utilizing
integrated, proprietary computational and experimental lab technologies to accelerate and optimize the drug discovery process. "There are several driving forces between this merger and the
creation of Cengent Therapeutics, namely an extended offering of products and services, enhanced drug discovery capabilities, and additional capital resources," stated Dr. Edward Maggio, CEO of Cengent Therapeutics.
David D. Muth, President and COO, added, "These are exciting times. Cengent Therapeutics will serve the pharmaceutical and biotechnology industries with our leading services for accelerating and optimizing the
drug discovery process. Additionally, we will pursue corporate collaborations to advance our pipeline." Cengent Therapeutics provides the most comprehensive suite of structural services and
capabilities for accelerating and optimizing the drug discovery process. The company's technologies include Genes To Leads® to accelerate and validate lead discovery; Structure Determination Services
including augmented homology modeling, X-ray crystallography, and nuclear magnetic resonance (NMR) spectroscopy; StructureBank®, a database for the comparative analysis of protein targets and anti-targets; Proteome
Analysis, a suite of technologies providing target identification and function information; and DBA for data-mining and pattern recognition. The company has established corporate partnerships with
Pfizer, Johnson & Johnson, Boehringer Ingelheim, Yamanouchi, Incyte, Analex (Advanced Biosystems), De Novo Pharmaceuticals, ArQule, AtheroGenics, Shire Pharmaceuticals, and Texas Biotechnology, that has advanced
Sitaxsentan, a drug lead identified with Cengent's Genes To Leads® technology to treat pulmonary arterial hypertension (PAH), into Phase III clinical trials. About Cengent Therapeutics Cengent
Therapeutics is a structure-guided drug discovery company utilizing integrated, proprietary computational and experimental lab technologies to accelerate and optimize the drug discovery process. Cengent was formed
following the synergistic merger of Structural Bioinformatics Inc. and GeneFormatics, both leaders in structure-driven drug discovery. Cengent currently has four pre-clinical programs in
obesity/diabetes, anti-infectives, oncology, and inflammation. In addition to its internal pipeline, the company has applied its technologies to advance the drug discovery programs of external collaborators.
The company has raised over $90 million to date from investors including Perseus Soros, New York Life, Burrill & Company, BioAsia, IngelWood Ventures, TaKaRa Shuzo, Deutsch Asset Management, and Dansk Kapitalantaeg.
Cengent is headquartered in San Diego, CA, with European headquarters in Copenhagen, Denmark, and operations in Cambridge, MA; Washington, DC; and Harrisburg, PA. For more information on
Cengent Therapeutics, its extensive drug pipeline, products, and services, please visit the company's Web site at |
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