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September 9, 2002
FOR IMMEDIATE RELEASE
Rib-X Pharmaceuticals 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, Conn.,- 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 4 pm - 6 pm (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 CEO 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 20 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,
LLC of Concord, Massachusetts, in securing the space
and negotiating the lease. The George Street Technology
Center is home to numerous other biotechnology companies.
Rib-X Pharmaceuticals is a small molecule drug discovery
company focused on the structure-based design of new
classes of anti-infective agents. The company's drug
discovery strategy is focused on the exploitation of
its proprietary high-resolution crystal structure of
the 50S subunit of the ribosome, to which known antibiotics
bind. The company's integrated research approach combines
computational analysis, x-ray crystallography, medicinal
chemistry, microbiology and biochemistry, allowing for
the rapid synthesis of new agents, which avoid typical
antibiotic resistance mechanisms. Utilizing its proprietary
software and intellectual property, Rib-X expects to
quickly optimize leads to create a new class of antibiotics.
Contacts:
Rx Communications Group
Rhonda Chiger (investors)
917-322-2569
rchiger@rxir.com
Pete Holmberg (media)
917-322-2164
pholmberg@rxir.com
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