Business Editors and Health/Medical Writers
SOUTH SAN FRANCISCO, Calif.--(BW HealthWire)--Dec. 15, 2000--Axys
Pharmaceuticals, Inc. (Nasdaq: AXPH) today announced that its Board of
Directors had elected Paul J. Hastings, Axys' newly appointed
President and CEO, to serve as a director for the company. The Board
also announced that it had accepted the resignation of Donald B.
Kennedy, Ph.D. Dr. Kennedy, the Bing Professor of Environment Science,
Professor of Education, and President Emeritus of Stanford University,
was recently named Editor-in-Chief of a premier peer review journal
necessitated his resignation from this and other positions
representing a potential for a conflict of interest. Hastings will
fill the opening on the Board of Directors created by Dr. Kennedy's
resignation, leaving the Board at seven members.
Axys Pharmaceuticals, Inc. is an integrated small molecule drug
discovery and development company. Axys has a broad pipeline of
products for chronic therapeutic applications that are partnered with
world-class pharmaceutical companies and a proprietary product
portfolio in oncology. Axys is also building shareholder value through
affiliated businesses that leverage the Axys technologies in order to
provide capital for Axys' drug discovery and development programs. In
addition to the minority interest in Discovery Partners International,
Inc. (Nasdaq: DPII) resulting from the merger of Axys Advanced
Technologies into DPII earlier this year, Axys' technology leveraging
businesses are: PPGx, a majority-owned pharmacogenomics company, and
Akkadix Corporation, an agricultural biotechnology company.
For more information about Axys Pharmaceuticals, Inc., please
visit the company's website at http://www.axyspharm.com
Except for the historical information contained herein, this press
release contains forward-looking statements that involve risks and
uncertainties which could cause Axys' actual results to differ
materially from those discussed here, including the risks inherent in
early stage development and the reliance on the efforts of
collaborative partners, the risk that Axys collaborations will not be
successful, the risk that clinical trials will not proceed as
anticipated or may not be successful, the risk that Axys will not be
successful in entering into new collaborations, market risk associated
with Axys' substantial ownership interest in Discovery Partners
International, Inc., competition and marketing risk, and general
economic conditions that may affect Axys' actual results and
developments. Additional factors that could cause or contribute to
such differences include, but are not limited to, those discussed in
the sections entitled "What Factors Could Cause Our Results to Differ
Significantly from Those You Might Expect?" and "What Other Matters
Should Stockholders Consider with Respect to Axys?" in the Axys' SEC
Reports, including Axys' report on Form 10-K for the fiscal year ended
December 31, 1999.
Contact: Axys Investor Relations: 650/829-1000 or email address
ir@axyspharm.com.
CONTACT:
Axys Pharmaceuticals, Inc.
John Walker, 650/829-1000
Original article: http://www.businesswire.com/webbox/bw.121500/203500150.htm
