Karo Bio and GPC Biotech Successfully Develop Ten Assays for Novel Anibacterial Targets

06-Feb-2002

MARTINSRIED/MUNICH, Germany, WALTHAM/BOSTON, Mass., HUDDINGE, Sweden, and DURHAM, N.C., Feb. 6, 2002 (PRIMEZONE) -- Karo Bio USA, Inc., a wholly owned subsidiary of Karo Bio AB, and GPC Biotech AG (Frankfurt Stock Exchange: GPC) today announced that their technology collaboration has been successfully concluded in a period of only 15 months with the development of 10 BioKey(r) molecular probe assays for selected novel genomics-derived antibacterial targets proprietary to GPC Biotech. GPC Biotech is using these BioKey(r) molecular probe assays to develop high-throughput drug discovery screens (HTS) and has already successfully concluded a HTS for one assay. Karo Bio has received undisclosed milestone payments for the completion of these BioKey(r) molecular probe assays. The 10 BioKey(r) molecular probe assays provide GPC Biotech with a drug discovery engine to identify lead compounds with potent antibacterial activity with the goal of developing novel, more effective broad- spectrum antibiotics. GPC Biotech retains all commercialization rights and Karo Bio will receive royalties on developed compounds or out- licensing. ``It has been a pleasure working with GPC Biotech. This collaboration has proven the power of the BioKey(r) assay technology to rapidly develop assays for the unique targets discovered and validated by GPC Biotech using their innovative genomic tools,'' said Dana Fowlkes, M.D., Ph.D., Chief Scientific Officer of Karo Bio. ``We are delighted with the results generated by Karo Bio which contributed to a significant advance of our antibacterial programs. The combination of GPC Biotech's genomic approaches and Karo Bio's assay development technologies, now truly enables new drug discovery programs based on an entirely novel set of antibacterial targets. We will now focus on making the most of these opportunities to discover and develop antibacterial compounds that will meet the needs of the future,'' commented Sebastian Meier-Ewert, Ph.D. Senior Vice President, Research of GPC Biotech. The proprietary BioKey(r) technology is used in drug discovery for validation and screening of a wide variety of targets, including those that are difficult or impossible to screen by traditional high throughput methods. The technology uses surrogate ligands based upon Karo Bio's proprietary BioKey(r) molecular probe technology to develop assays for the quick identification of small molecule lead compounds that bind to the pharmacologically active sites of the target proteins. This innovative technology is used for Karo Bio's internal nuclear receptor drug discovery programs and collaborative out-licensing agreements with pharmaceutical and biotechnology companies. The economic projections and forward-looking statements contained in this document relate to future facts. Such projections and forward- looking statements are subject to risks which cannot be foreseen and which are beyond the control of GPC Biotech AG. GPC Biotech AG is therefore not in a position to make any representation as to the accuracy of economic projections and forward-looking statements or their impact on the financial situation of GPC Biotech AG or the market in the shares of GPC Biotech AG.

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