Full Spectrum Genetics, Inc and BioBlocks, Inc. Enter Collaboration to Discover Novel Small Molecule Therapeutics That Inhibit a Commercially Validated Cancer Target

SOUTH SAN FRANCISCO, CA and SAN DIEGO, CA--(Marketwire - June 13, 2012) -

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www.fsgene.com

www.bioblocks.com

Full Spectrum Genetics, Inc., a privately-held biopharmaceutical company, and BioBlocks, Inc., a privately-held small molecule lead discovery company today announced entering a collaboration to demonstrate the advantages of the combination of Full Spectrum Genetics' MapEng™ protein analysis and engineering platform and BioBlocks' Fragment-to-Lead™ fragment based drug discovery platform. Combined, these technologies will serve to identify key protein-protein interactions and discover small molecule drug candidates in a more rapid and cost effective manner than traditional methods. Financial details of the collaboration were not disclosed.

"Traditional methods to understand protein-protein interactions that affect disease outcomes often yield incomplete information despite the considerable time and expense involved," said Tom Smart, president and chief executive officer of Full Spectrum Genetics. Smart continued, "Our MapEng™ platform is designed to generate these insights significantly faster, less expensively and in more detail. We look forward to working with BioBlocks whose strengths in fragment based drug discovery and medicinal chemistry strongly positions them to capitalize on this information to optimize the discovery of small molecule therapeutics."

"In spite of significant recent developments in drug discovery technologies, the identification of high quality leads that are ultimately successful in clinical trials remains a challenge. This process is even more daunting for difficult targets such as protein-protein interactions," said Peter Pallai, Ph.D., president and chief executive officer of BioBlocks. "Our Target-to-Lead™ platform addresses this problem with a fragment based approach utilizing a dynamic lead development pathway for selection of high quality lead candidates. Working with Full Spectrum Genetics allows us to take advantage of the synergy between our platform and Full Spectrum Genetics' exceptional capabilities in mapping protein functional sites. Our joint capabilities allow us to develop drug candidates for protein-protein interactions, including the cancer target chosen for our collaboration."

About Full Spectrum Genetics
Founded in 2010, Full Spectrum Genetics, Inc. is a privately-held protein analysis and engineering platform and product company. The Company's MapEng™ platform enables the ultra-high throughput quantification of the effect on binding of every possible single amino acid substitution within a protein binding site. The MapEng™ platform provides a comprehensive analysis of protein structure-function relationships, with multiple applications for generating better biotherapeutics and diagnostics. For more information on Full Spectrum Genetics and its MapEng™ platform, visit www.fsgene.com.

About BioBlocks
Founded in San Diego in 2002, BioBlocks provides medicinal chemistry expertise and high value intermediate products to partners in the drug discovery community. In numerous successful collaborations aided by a results-based lead optimization model, BioBlocks scientists have developed preclinical candidates and reached program milestones. The Company's Target-to-Lead™ platform addresses fundamental issues in drug discovery -- the high attrition rate and lack of novelty found in typical HTS hits -- by providing an alternative source for high quality tractable leads with multiple possible optimization pathways. For more information on BioBlocks and its lead discovery services please visit www.bioblocks.com.