Rib-X Pharmaceuticals, Inc. Opens New State-of-the-Art Facility
— Relocation to Support Drug Discovery Paradigm and Expansion of Staff
— New Haven Mayor John DeStefano, Jr, to Attend Opening Celebration
New Haven, Connecticut. September 9, 2002 — Rib-X Pharmaceuticals,
Inc., a privately held bioscience company focused on the discovery
of new anti-infectives, today announced the relocation of the Company's
corporate headquarters and research operations to a new facility in
The George Street Technology Center, located at 300 George Street in
New Haven. Mayor John DeStefano, Jr. is expected to attend the opening
celebration, which will be held at the new facility on Tuesday,
September 10, 2002 from 4PM-6PM (EDT).
"The design of the new space allows us to implement our integrated, structure based drug design approach by bringing biochemistry, microbiology, crystallography, computation, and chemistry together to form the optimal drug discovery environment" said Dr. Susan Froshauer, the President and Chief Executive Officer of Rib-X. "As we move towards the clinical process, Rib-X is in a heavy growth mode. We have hired more than 40 people during the past year, with plans for at least twenty more by year's end. Our expansion is fueling the development of a true heterogeneous community as we attract staff from countries such as Germany, Switzerland and Nigeria, and all areas of the United States."
The build-out for the 27,000 square foot facility was largely funded by Connecticut Innovations, one of the State's leading investors in high technology. Rib-X management worked directly with the owner and manager of The George Street Technology Center, Winstanley Enterprises, L.L.C. of Concord, Massachusetts, in securing the space and negotiating the lease. The George Street Technology Center is home to numerous other biotechnology companies.
About Rib-X Pharmaceuticals
Rib-X Pharmaceuticals, Inc. is a product-driven small-molecule drug discovery and development company focused on developing and commercializing antibiotics to treat highly-resistant bacterial infections. Based in New Haven, Connecticut, the Company has raised over $170 million and has two programs, delafloxacin and radezolid, in advanced clinical trials. In addition, a preclinical program featuring an entirely new class of broad-spectrum antibiotics with the potential to treat even highly- resistant Gram-negative infections is scheduled to begin clinical trials in 2011.
Rib-X designs and develops novel small-molecule antibiotics by leveraging the Company's Nobel Prize- winning discovery platform to perform structure-based design and optimization. While many commercially valuable classes of antibiotics bind to the bacterial ribosome, including oxazolidinones, tetracyclines and macrolides, traditional antibiotic discovery relies heavily on serendipity. Rib-X's key competitive advantage is its proprietary understanding of ribosome structure, which enables it to generate antibiotics that overcome known resistance mechanisms and have broad-spectrum activity.
Rib-X's integrated research strategy combines state-of-the-art, proprietary computational analysis, X-ray crystallography, medicinal chemistry, microbiology and biochemistry, thereby allowing Rib-X to rapidly synthesize new agents designed to avoid typical antibiotic resistance mechanisms. Rib-X's iterative intelligent engine has yielded several distinct new antibiotic classes.
"The design of the new space allows us to implement our integrated, structure based drug design approach by bringing biochemistry, microbiology, crystallography, computation, and chemistry together to form the optimal drug discovery environment" said Dr. Susan Froshauer, the President and Chief Executive Officer of Rib-X. "As we move towards the clinical process, Rib-X is in a heavy growth mode. We have hired more than 40 people during the past year, with plans for at least twenty more by year's end. Our expansion is fueling the development of a true heterogeneous community as we attract staff from countries such as Germany, Switzerland and Nigeria, and all areas of the United States."
The build-out for the 27,000 square foot facility was largely funded by Connecticut Innovations, one of the State's leading investors in high technology. Rib-X management worked directly with the owner and manager of The George Street Technology Center, Winstanley Enterprises, L.L.C. of Concord, Massachusetts, in securing the space and negotiating the lease. The George Street Technology Center is home to numerous other biotechnology companies.
About Rib-X Pharmaceuticals
Rib-X Pharmaceuticals, Inc. is a product-driven small-molecule drug discovery and development company focused on developing and commercializing antibiotics to treat highly-resistant bacterial infections. Based in New Haven, Connecticut, the Company has raised over $170 million and has two programs, delafloxacin and radezolid, in advanced clinical trials. In addition, a preclinical program featuring an entirely new class of broad-spectrum antibiotics with the potential to treat even highly- resistant Gram-negative infections is scheduled to begin clinical trials in 2011.
Rib-X designs and develops novel small-molecule antibiotics by leveraging the Company's Nobel Prize- winning discovery platform to perform structure-based design and optimization. While many commercially valuable classes of antibiotics bind to the bacterial ribosome, including oxazolidinones, tetracyclines and macrolides, traditional antibiotic discovery relies heavily on serendipity. Rib-X's key competitive advantage is its proprietary understanding of ribosome structure, which enables it to generate antibiotics that overcome known resistance mechanisms and have broad-spectrum activity.
Rib-X's integrated research strategy combines state-of-the-art, proprietary computational analysis, X-ray crystallography, medicinal chemistry, microbiology and biochemistry, thereby allowing Rib-X to rapidly synthesize new agents designed to avoid typical antibiotic resistance mechanisms. Rib-X's iterative intelligent engine has yielded several distinct new antibiotic classes.
| Public Relations |
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Kari Watson
MacDougall BioMedical Communications 781-235-3060 kari@macbiocom.com |
| Investor Relations |
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Sarah Cavanaugh
MacDougall BioMedical Communications 781-235-3060 scavanaugh@macbiocom.com |