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CONTACT: KURT E. HEIAR
President & Chief Executive Office
EnzyMed, Inc.
2501 Crosspark Road
(319) 626-5400
e-mail:custserv@enzymed.com
CONTACT: TOM BAUER
109 Technology Innovation Center
Oakdale Research Park
(319) 335-4067
Iowa City IA 52242
e-mail:thomas-bauer@uiowa.edu

Release: Immediate

EnzyMed, Inc. and UI announce five-year research collaboration

CORALVILLE, Iowa -- EnzyMed, Inc. and the University of Iowa today, Thursday, May 28, announced a five-year collaboration agreement that will match research efforts at the UI with complementary pharmaceutical technology at EnzyMed. EnzyMed specializes in the discovery and development of pharmaceutical and agrochemical compounds.

Under the agreement, UI researchers working on new compounds or on biological targets for drugs may collaborate with EnzyMed. In the latter case, EnzyMed will supply an array of chemical compounds to be tested for their activity against and their affinity for the targets identified by the UI. In February, EnzyMed reached an agreement with Iowa State University that is similar to the UI agreement.

EnzyMed's proprietary BIOACTIVTM technology enables the company to generate a large number of chemically related compounds or "libraries." If a target identified at the UI leads to identification of a marketable new drug, the UI and EnzyMed will share in the benefits of commercialization.

"Given the excellent faculty and research staff at the University of Iowa, we are confident that this collaboration will lead to interesting new compounds for commercialization," said Marti Fleming, EnzyMed director of business development . "The agreement adds structure to the relationship EnzyMed has enjoyed with the university since our founding in 1994," added Kurt Heiar, EnzyMed president and CEO.

"We are hopeful that this collaboration will lead to the development of new medicines," said David J. Skorton, UI vice president for research. "First and foremost, such an outcome would benefit the public, but it would also benefit the University of Iowa and EnzyMed. We have created the Technology Innovation Center (a business incubator) and the Oakdale Research Park so that we can enable this sort of mutually beneficial relationship."

EnzyMed is affiliated with the Technology Innovation Center on the UI Oakdale Research Campus in Coralville. It is a growing company whose technology platform originated from research at the University of Iowa and the University of California, Berkeley.

EnzyMed, Inc specializes in the discovery and optimization of pharmaceutical and agrochemical compounds utilizing a proprietary combinatorial biocatalysis platform. EnzyMed is the first company to integrate iterative enzymatic and microbial reactions with selected chemical synthesis on an automated platform for application to drug optimization. EnzyMed's unique technology has proven itself applicable to many types of therapeutics including small molecules, natural products, and complex synthetic lead compounds and is focused on accelerating lead optimization timeliness. The company currently has a number of collaborations with pharmaceutical partners worldwide in lead optimization, lead generation, and joint discovery areas.

5/28/98