| Incyte and
Novartis enter into genomic database partnership |
Palo Alto, California
Jan. 13, 1998
Incyte Pharmaceuticals, Inc., (Nasdaq: INCY) announced today that it has entered into a
genomic database partnership with Novartis. The multi-year agreement provides Novartis
with access to Incyte's LifeSeq® gene sequence and expression database in exchange for
annual access fees. Incyte could receive future royalties on sales of products developed
with Incyte technology and database information. Financial terms of the agreement were not
disclosed.
"We are pleased to expand upon our previous relationship with Novartis," said
Roy A. Whitfield,
Chief Executive Officer of Incyte. "The addition of Incyte's LifeSeq database to the
Novartis enterprise-wide bioinformatics software and data management system will provide a
powerful tool for Novartis' global research effort."
Novartis is a world leader in Life Sciences with its core businesses in Healthcare,
Agribusiness and Nutrition. In 1996, Novartis Group sales in Life Sciences were 27.6
billion Swiss francs, of which 16.3 billion were in Healthcare, 7.6 billion in
Agribusiness and 3.7 billion in Nutrition. The
company annually invests more than 3 billion Swiss francs in research and development.
Headquartered in Basel, Switzerland, Novartis employs about 88,000 people and operates in
more than 100 countries around the world.
Incyte Pharmaceuticals, Inc. is a leader in the design, development, and marketing of
genomic database products, genomic data management software tools, and related reagents
and services. N1688 |
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