SYSTEM TO ENHANCE VALUE FROM INVESTMENTS IN DRUG DISCOVERY AND DEVELOPMENT
CAMBRIDGE, Mass., and ALVISO, Calif., April 16, 2002 – Millennium Pharmaceuticals, Inc. (NASDAQ: MLNM) and Ingenuity Systems, Inc. today announced a two-year collaboration in which they will develop a new, groundbreaking system for scientific knowledge management. The system and its software are expected to enhance Millennium’s ability to maximize the value it derives from its investments in drug discovery and development, and more specifically, from the vast amount of information it generates using its high-throughput gene-to-patient technology platform.
The system that results from the collaboration will enable Millennium researchers to computationally search across and integrate diverse conclusions from both internal research and published scientific literature, allowing new insights to be drawn from interpretational knowledge. Internal research findings and interpretations of experimental research will be organized in a knowledge base using a structured vocabulary which makes these interpretations readily searchable across the organization and against a knowledge base of published scientific findings that have been codified in the same way. This will bring immediate benefits in, for example, the ability to reason across scientific conclusions to develop a better understanding of molecular pathways.
More broadly, overall productivity will benefit from better informed decisions throughout the drug discovery and development process, increasing the probability of success from target to clinic. Personalized medicine will benefit from improved understanding of differences in underlying molecular mechanisms of disease and in pathways likely to influence individual patients’ response to drugs. Millennium believes the ability to computationally integrate and build upon knowledge in this way will be critical to meeting the productivity challenges of drug discovery and development in the 21st century.
“Millennium has a long and successful record in the application of cutting-edge technology to enhance the drug discovery and development process. Through this innovative collaboration, we are taking the lead in tackling an enormous unmet need within R&D: effectively capturing and institutionalizing researchers’ interpretational knowledge and conclusions, not simply the raw data generated from experiments,” said Allan Marchington, Ph.D., senior vice president, productivity, Millennium. “We believe Ingenuity has unique capabilities that will help us address this need, enhancing our ability to make key decisions as we focus on our deep product pipeline.”
“Ingenuity has developed a powerful knowledge management capability, and we are very pleased with the opportunity to work with Millennium to deploy and further develop our solution. Millennium is a unique partner for Ingenuity in that they combine a sophisticated and broad vision for improving productivity, with an impressive track record of working with partners to develop and implement leading edge technology solutions,” said Jake Leschly, President and CEO of Ingenuity. “We are very fortunate to have the opportunity to work with this exceptionally talented team.”
In the collaboration, Ingenuity will deploy its capability to acquire, structure, and deliver knowledge and will provide access to its knowledge base of over 500,000 public findings. Millennium will contribute its extensive expertise in developing innovative processes and informatics platforms for discovery and development of personalized medicines. Millennium will provide R&D funding to Ingenuity and will also make equity investments in Ingenuity. Additional financial terms of the agreement were not disclosed.
The new Millennium-Ingenuity collaboration is a key component of a broader knowledge management initiative within Millennium. Millennium firmly believes that this will play an essential role in its quest for highly productive development of personalized medicines, with impact on many different stages of the gene-to-patient process, so that key decisions about targets, pathways, lead compounds, and patient populations will be illuminated by a deep understanding based on prior experience and the collective knowledge of the scientific and medical community.
About Ingenuity Systems
Ingenuity Systems is helping life science researchers explore and understand biological systems that are foundational to human health and disease. Ingenuity delivers capabilities and expertise to researchers through analysis software, genome-scale computable network databases, and knowledge management services and infrastructure, resulting in increased productivity and faster drugs to market. The company was founded in 1998 and is headquartered in Mountain View, California.www.ingenuity.com.
About Millennium Pharmaceuticals, Inc.
Millennium Pharmaceuticals, Inc., a leading biopharmaceutical company, applies its comprehensive and integrated science and technology platform for the discovery and development of breakthrough therapeutic and predictive medicine products with a goal of delivering personalized medicine. Millennium is primarily focusing its research and development and commercialization activities in four key areas: cardiovascular, oncology, inflammation and metabolic disease. Through the industrialization of its gene-to-patient platform, Millennium is striving to accelerate the process of drug discovery and development. Headquartered in Cambridge, Mass., Millennium currently employs approximately 2,000 people.
For Millennium: This press release contains “forward-looking statements,” including statements about our growth and future operating results, discovery and development of products, potential acquisitions, strategic alliances and intellectual property. Various risks may cause Millennium’s actual results to differ materially, including: advese results in our dug discovey and clinical development processes; failure to obtain patent protection for our discoveries; commercial limitations imposed by patents owned or controlled by third parties; our dependence upon strategic alliance partners to develop and commercialize products and services based on our work; difficulties or delays in obtaining regulatory approvals to market products and services resulting from our development efforts; and the requirement for substantial funding to conduct reseach and development and to expand commercialization activities. For a further list and description of the risks and uncetainties we face, see the repots we have filed with the Securities and Exchange Commission. We disclaim any intention or obligation to update or revise any forwardlooking statements, whether as a result of new information, future events or otherwise.