Upstream Biosciences Inc.
PINK SHEETS : UPBS

Upstream Biosciences Inc.

November 07, 2007 13:12 ET

Upstream Biosciences Launches Chemoinformatics Program to Extend Its Drug Discovery Capabilities

Files Provisional U.S. Patent On Methods for Incorporating Genetic Variation Data into the Chemoinformatics Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 7, 2007) - Upstream Biosciences Inc. (OTCBB:UPBS) today announced it is establishing a Chemoinformatics Program to extend its drug discovery efforts into additional disease areas. Upstream's Chemoinformatics Program combines artificial intelligence, advanced computational methods and chemical diversity techniques that will be applied to the company's proprietary drug scaffolds and compound library. This effort will initially build on Upstream's recently acquired novel compounds that in laboratory studies demonstrate both human and veterinary potential against major tropical parasitic diseases, including trypanosomiasis and leishmaniasis. Separately, Upstream also announced that it has filed a provisional United States patent on methods for incorporating data on genetic variations it will generate in its biomarker discovery efforts as well as those in the public domain into the Chemoinformatics program.

Upstream obtained exclusive worldwide rights to its existing library of novel compounds and potential drug scaffolds through the company's acquisition of Pacific Pharma Technologies. Upstream intends to combine its state-of-the-art computational approaches with advanced chemistries to produce novel compounds with enhanced efficacy and reduced toxicity for conditions such as infectious diseases and cancer. The proprietary scaffolds acquired by Upstream will also be used to develop additional compound libraries.

Upstream also intends to use relevant genetic variations it will identify in its biomarker discovery program as well as genetic variations in the public domain as inputs into the Chemoinformatics Program. These genetic variations may include differences that impact drug metabolism, treatment efficacy or susceptibility to drug toxicity or to the development of drug resistance. In some cases researchers may "design around" a variation to minimize its impact, or conversely, data on the variation could be used by researchers to help achieve specific drug attributes.

"Our Chemoinformatics Program will focus on optimizing our proprietary compound library and enhancing our ability to use it to discover additional novel drugs," said Joel L. Bellenson, Chief Executive Officer of Upstream. "The innovative drug discovery approach we are developing complements the core competencies we are applying in our biomarker discovery programs and potentially positions us to expand into additional therapeutic areas. The provisional patent filing we announced today brings together these two programs, covering methods for applying data on genetic variations that we will generate in the biomarker program to our computational drug discovery activities."

Mr. Bellenson and Upstream President Dexster Smith bring considerable expertise to these computational programs, having pioneered some of the first computer-based systems for managing combinatorial chemistry and pathogen screening data as co-founders of Pangea Systems/Doubletwist, which made history in 1999 by providing computational tools for annotating the first draft of the human genome.

The provisional United States patent filing is titled, "Method for combining 3D quantitative chemical structure activity relationships (QSAR) of compounds with genetic variation of drug targets and metabolic enzymes to optimize efficacy, provide predictive toxicology, and address drug resistant microorganisms."

About Upstream Biosciences Inc.

Founded in 2004, Upstream Biosciences is an emerging leader in the discovery and development of novel drugs for tropical parasitic diseases and in the development of genetic diagnostics for cancer susceptibility and drug response. Upstream's innovative approach to drug discovery and its proprietary data mining pipeline enable it to apply advanced computational approaches to generating novel drug candidates and to locating and analyzing the genetic variations important to disease progression and drug response. For more information visit www.upstreambio.com.

Notice Regarding Forward-Looking Statements: This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectation and/or claim, as applicable, that: (i) the Company intends to combine its state-of-the-art computational approaches with advanced chemistries to produce novel compounds with enhanced efficacy and reduced toxicity for conditions such as infectious diseases and cancer; (ii) the intent to use relevant genetic variations it will identify in its biomarker discovery program as well as genetic variations in the public domain as inputs into the Chemoinformatics Program; (iii) genetic variations may include differences that impact drug metabolism, treatment efficacy or susceptibility to drug toxicity or to the development of drug resistance; and (iv) the Company's drug discovery approach complements the core competencies it is applying in its biomarker discovery programs and potentially positions the Company to expand into additional therapeutic areas. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others:
(i) the risk that the Company does not execute its business plan; (ii) the inability of the Company to keep pace with technological advancements in the field of genetic diagnostics and the treatment of tropical parasitic diseases; (iii) the Company's inability to adequately protect its intellectual property or the Company's inadvertent infringement of third party intellectual property; (iv) the Company not being able to retain key employees; (v) competitors providing better or cheaper products and technologies; (vi) markets for the Company's products not developing as expected; (vii) the Company's inability to finance its operations or growth; (viii) inability to obtain all necessary government and regulatory approvals; (ix) the inability to effectively market and commercialize the Company's technologies, including the establishment of viable relationships with third parties; and (x) the conference not proceeding as planned for any reason. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time-to-time with the Securities and Exchange Commission and available at www.sec.gov.

Contact Information

  • GendeLLindheim BioCom Partners
    Barbara Lindheim
    Media/Corporate
    (212) 918-4650
    or
    Upstream Biosciences Inc.
    Samantha Haynes
    Investors
    1-800-539-0289
    Email: info@upstreambio.com
    Website: www.upstreambio.com