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ActiveSight To Provide Protein Crystallography To Ambit Biosciences Corporation


11/1/2005 12:31:08 PM

SAN DIEGO, Nov. 1 /PRNewswire/ -- ActiveSight and Ambit Biosciences announced that they have entered into a protein crystallography services agreement to advance Ambit's drug discovery program. The agreement covers the co-crystallization of Ambit proprietary molecules with proteins expressed by ActiveSight. Additional details of the agreement were not disclosed.

"We are delighted to provide Ambit, demonstrated leaders in the kinase arena, with structural biology support," stated Ronald V. Swanson, Ph.D., Chief Scientific Officer for ActiveSight.

"I am very pleased that we have initiated this technology collaboration in structural biology with ActiveSight," said Shripad Bhagwat, Sr. Vice President of Drug Discovery at Ambit. "This agreement is intended to accelerate Ambit's kinase drug discovery programs through the application of ActiveSight's protein crystallography technology applied across our discovery portfolio."

ABOUT ACTIVESIGHT

ActiveSight (TM), a division of Rigaku Americas Corporation, provides high-level structural biology services to advance clients' drug discovery efforts. ActiveSight features a full range of crystallography services, as well as a Portfolio of "ready to go" crystallography targets. For more information visit www.active-sight.com.

ABOUT AMBIT BIOSCIENCES

Ambit Biosciences is a privately-held biopharmaceutical company developing small molecule neuroprotectants for the treatment of stroke and other CNS disorders and kinase inhibitors for the treatment of cancer and inflammation. Ambit plans to initiate clinical trials for stroke and oncology in 2006. Ambit's proprietary technology, which has been validated through collaborations with Roche, Bristol-Myers Squibb Company, GlaxoSmithKline, Pfizer and others, provides an unprecedented ability to identify, characterize, and quantify protein-small molecule interactions. Ambit has raised a total of more than $50 million from investors including Perseus-Soros Biopharmaceutical Fund, Forward Ventures, Roche Venture Fund, Avalon Ventures, GIMV NV, MDS Capital and Genechem.

ActiveSight

CONTACT: Joy Silen, Director of Business Development for ActiveSight,+1-858-455-6870, info@active-sight.com; or Stephen F. Keane, VicePresident, Corporate Development for Ambit Biosciences, +1-858-334-2147, orcell, +1-858-232-5928, or fax, +1-858-334-2198



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