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Amphora Discovery Corporation Announces Formation Of Two Market Driven Business Units


9/11/2006 9:07:34 AM

RESEARCH TRIANGLE PARK, N.C., Sept. 11 /PRNewswire/ -- Amphora Discovery Corp. announced today the formation of two stand-alone business units to fully leverage the company's intellectual property and proprietary expertise. The Amphora Pharmaceuticals Business Unit, based in Los Altos, CA, will focus on leveraging the company's high-value drug candidates and creating partnerships with key pharmaceutical and biotech companies. In parallel, the Amphora Discovery Business Unit, based in Durham NC, will offer the company's proven drug discovery expertise through a contract research offering.

Peter Savas, Amphora CEO and Chairman said of the Business Unit formation, "The strategic division of the company into two stand-alone business units will enable Amphora to fully realize the value of both its world-leading high- throughput drug discovery expertise and its very promising portfolio of drug candidates. We have constantly been asked to reproduce the demonstrated success of our in-house discovery program in a contract mode by both major Pharma and Biotech companies. This move will enable us to do just that, while at the same time retain focus on the continued development and out-licensing of our drug candidate portfolio."

Bill Janzen, CTO and Founder of Amphora, will head the Amphora Discovery Business Unit, which will maintain it operations at the Research Triangle Park, NC headquarters of the company. "Our proprietary industrialized biology approach to drug discovery has been proven over 100 high-throughput screens and the generation of 35 million data points," said Janzen. "This successful industrialized approach has led to the identification of numerous high quality chemical series with unique selectivity profiles, delivering leads for Amphora's early discovery and lead optimization programs and forming the basis for the Amphora Pharma's development and out-licensing opportunities. We will now be able to provide the assay design, high-throughput screening, compound profiling and IT platforms and expertise that we have built here to the rest of the industry as a unique, highly competitive set of contract discovery services."

C. Nicholas Hodge, CSO and Founder of Amphora, will head the Amphora Pharma Business Unit. "Amphora's drug discovery efforts have resulted in successful collaborations with industry leaders and the advancement of multiple internal programs into preclinical studies. Amphora Pharma has a large and growing intellectual property portfolio for drugable small molecules directed toward high-value targets for cancer, inflammation and CNS diseases. The new company structure will allow to focus on creating maximum value from Amphora Pharma's extensive database of structure-activity-selectivity relationships, purified compound library, drug discovery programs and lead candidates," Hodge said.

About Amphora Discovery Corp.

Amphora Discovery Corporation is a leading biotechnology company, with two dedicated business units. The Amphora Pharma Business Unit is focused on development and out-licensing of the company's broad selection of high-value lead candidates. The Amphora Discovery Business Unit is a leading provider of integrated contract services for the pharmaceutical industry, employing cutting-edge chemogenomic, systems biology and microfluidics technologies to deliver innovative and targeted lead generation and lead optimization solutions.

Source: Amphora Discovery Corporation

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