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Predix Pharmaceuticals Files for Initial Public Offering

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midastouch017   Friday, 08/05/05 05:27:18 AM
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Predix Pharmaceuticals Files for Initial Public Offering
Wednesday August 3, 6:11 pm ET

LEXINGTON, Mass. & RAMAT GAN, Israel--(BUSINESS WIRE)--Aug. 3, 2005--Predix Pharmaceuticals, a drug discovery and development company, today announced that it has filed a registration statement with the Securities and Exchange Commission (SEC) relating to the proposed initial public offering of primary shares of its common stock.
UBS Investment Bank will be acting as the sole book-running manager. Deutsche Bank Securities Inc. will be a co-lead manager and CIBC World Markets Corp. and ThinkEquity Partners LLC will be co-managers.

This offering will be made only by means of a prospectus. When available, a written preliminary prospectus relating to this offering may be obtained from UBS Investment Bank, Prospectus Department, 299 Park Avenue, New York, NY 10171.

A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any such State.

About Predix

Predix Pharmaceuticals Holdings, Inc. is a pharmaceutical company focused on the discovery and development of novel, highly selective, small-molecule drugs that target G-Protein Coupled Receptors (GPCRs) and ion channels. Using its proprietary drug discovery technology and approach, Predix has advanced three drug candidates into clinical trials and has six additional programs in preclinical development and discovery. Predix's lead clinical-stage drug candidate, PRX-00023, completed a Phase II clinical trial in patients with Generalized Anxiety Disorder in July 2005, and Predix expects to begin screening patients for the first of at least two pivotal Phase III clinical trials for this indication in early August 2005. Its two other clinical-stage drug candidates, PRX-03140 for the treatment of Alzheimer's disease and PRX-08066 for the treatment of Pulmonary Arterial Hypertension, are in Phase I clinical trials.

Predix Pharmaceuticals
Kim Drapkin, CFO, 781-372-3272
Pure Communications
Andrea Johnston, 910-681-1088
Sheryl Seapy, 949-608-0841

Source: Predix Pharmaceuticals




General information
Available R&D capabilities


Contact: Name: Dr. Silvia Noiman
Position: General Manager Israel

Address: 3 Hayetzira St., S.A.P. Building
Ramat Gan
ISRAEL, 52521
Telephone: 03-6128590
Fax: 03-6128528
Email: noiman@predixpharm.com
WEB site: www.predixpharm.com



Established: 2000
Ownership: Private

Core business

Computational drug discovery.

Employees: 33
Market regions: USA, Europe
Main Markets: Biotechnology & Pharmaceutical Companies


PREDIX PHARMACEUTICALS (formerly Bio Information Technologies
Ltd. (Bio-IT)) is a computational drug discovery company, which
develops novel computational tools that accelerate and improve
drug discovery. The Company has developed cutting-edge, unique
and revolutionary algorithms to predict the 3-dimensional
structure of G protein coupled receptors (GPCRs), which are
considered to be the most important protein targets for drug

PREDIX has developed a unique proprietary computational
technology (PREDICT) for predicting the three-dimensional
structure of any G-protein coupled receptors. The company's
technology overcomes the limitations of existing models. Predix's
approach is very general, and has the advantage that it requires
only the protein primary sequence (genomic information) as input,
making it a true bridge from the genome to drugs.

The PREDICT technology has so far been applied to a variety of
GPCRs. The results validate the technology both with respect to
the quality of the models and with respect to their value in the
context of drug discovery. The results also indicate that the
technology can handle the expected diversity of GPCR structures.

PREDIX PHARMACEUTICALS intends to use its proprietary
computational technologies to find small molecule lead drugs for
a broad range of human disease in which GPCRs are involved.


R&D technology: Bioinformatics
R&D applications: Drug leads, drug discovery
Available R&D facilities
R&D employees: 6
R&D professionals: 6



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