Emisphere Creates Subsidiary To Investigate New Drug Design Technology

Emisphere Technologies, Inc. is to form a new subsidiary company to explore a novel drug design technology. The company will initially investigate the use of the technology for the treatment of drug-resistant microbial infections, under the direction of Emisphere's President, Dr. Sam Milstein, who will become the new company's CEO.

"The technologies upon which our new company is based represent an entirely new way of developing treatments for drug-resistant microbial infections," said Dr. Milstein. "The new technologies employ novel computational technologies in conjunction with mechanisms related to Emisphere's existing technology," he added.

Emisphere's Board of Directors felt that although the new technology was potentially very exciting, it was outside the scope and mission of the original company, explained Dr. Michael M. Goldberg, chairman and CEO of Emisphere. The research efforts of the venture are initially being funded through in vitro proof-of-concept studies.

Although Emisphere will be the new company's majority shareholder, Dr. Milstein and certain academic collaborators will take minority equity positions. Dr. Milstein will be devoted full time to building the new venture and has resigned his position as President and Chief Scientific Officer of Emisphere.

For more information: Emisphere Technologies, Inc., 765 Old Saw Mill River Rd., Tarrytown, NY 10591. Telephone: 914-347-2220. Fax: 914-347-2498.