Sibia Enters License Agreement with SmithKline Beecham

Sibia Neurosciences Inc. (La Jolla, CA) has entered into a non-exclusive license agreement with SmithKline Beecham Corp. (Philadelphia) for U.S. patent 5,401,629 ('629) and additional patents.

The patented technology covers a drug screening method called a transcription-based assay (TBA), a functional cell-based assay that provides an indirect measure of the activity of certain cell surface molecules. TBA enables the identification of active compounds from large collections of compounds.

SIBIA will receive annual maintenance payments for use of the technology and royalty payments if compounds discovered as a result of this technology lead to commercial products.

SIBIA Neurosciences Inc. is engaged in the discovery and development of novel small molecule therapeutics for the treatment of neurodegenerative, neuropsychiatric, and neurological disorders.

SmithKline Beecham manufactures pharmaceuticals and consumer health products.

For more information, contact Stephen Keane, VP, Corporate Development, Sibia Neurosciences Inc., 505 Coast Blvd. South, Ste. 300, La Jolla, CA 92037-4641, 619-452-5892, Ext. 223.