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SYRRX AND MOLSOFT FORM STRATEGIC ALLIANCE


SAN DIEGO, CA October 31, 2000

Syrrx, Inc., a pioneer in the field of structural proteomics, and Molsoft, LLC, a leading developer of breakthrough technologies in computational biology, have entered into a 10-year strategic alliance to accelerate structure-guided drug discovery through the combination of Molsoft’s Virtual Ligand Screening (VLS) technology with Syrrx's high-throughput structural proteomics platform.

"This alliance represents a commitment by both organizations to leverage their core competencies together to create the superior platform for structure-guided drug discovery," said Dr. Ruben Abagyan, Founder of Molsoft. To facilitate maximum communication between Syrrx and Molsoft, Dr. Abagyan shall also join the Syrrx Board of Directors. As a result of the agreement, Syrrx shall be the only company authorized to use Molsoft VLS technology in combination with structural proteomics capabilities. Molsoft will, however, continue to provide VLS services directly to major pharmaceutical and biotechnology companies. "This alliance will enable a whole new approach to drug discovery to exploit the fruits of the Human Genome effort," said Dr. Raymond Stevens, Director of Science and Technology at Syrrx. "The combination of Syrrx's high-throughput structure determination technology with Molsoft's high-throughput lead discovery technology will fundamentally improve how drugs are discovered."

Syrrx uses an array of proprietary robotic technologies to automate and streamline multiple steps in the protein structure determination process, resulting in the determination of hundreds of protein structures each year. Molsoft's technology then takes Syrrx discoveries one step closer to medical breakthroughs by using protein structures to create novel drugs. Molsoft's VLS technology uses a supercomputer to simulate the interaction between proteins (i.e., potential drug targets) and small molecules (i.e., potential drugs). The proteins and small molecules are then "fitted" together in the computer to identify those small molecules that might become future drugs. More than 1 million compounds can be tested each day using Molsoft technology. “Our new algorithms are trained to solve the global energy optimization problem of highly complex systems,” commented Maxim Totrov, Molsoft’s Principal Scientist and scientific co-founder. "Syrrx's robotics,” added Wendell Wierenga, CEO of Syrrx, “leveraged together with Molsoft's VLS technology, uniquely positions Syrrx to assume the lead in the structural proteomics space, and, ultimately, to design drugs rapidly.”

Molsoft has been developing breakthrough software tools for molecular modeling, bioinformatics, and computer-aided drug discovery since 1994. Molsoft’s technology is used by major academic institutions, government organizations, and pharmaceutical companies, including the Genomics Institute of the Novartis Research Foundation, the National Institutes of Health, the Karolinska Institute (Sweden), New York University, Structural Bioinformatics Inc., eBioinformatics, Pharmacia, SmithKline Beecham, and Bristol-Myers Squibb. For more information about Molsoft, visit www.Molsoft.com.

Syrrx utilizes proprietary, high-throughput technology platforms to solve hundreds of protein structures per year. The company has raised more than $25 million to date from a variety of investors, including Bay City Capital, CMEA Ventures, Lombard Odier & Cie, MPM Asset Management, Versant Ventures, and Dr. Alejandro Zaffaroni. Syrrx has entered a 5-year strategic partnership with the Genomics Institute of the Novartis Research Foundation for the co-development of the next generation of solutions to accelerate structural proteomics.

This news release may contain certain forward-looking statements by Syrrx and Molsoft and actual results could differ materially from those described as a result of factors outside of the control of Syrrx or of Molsoft.

CONTACTS:

Syrrx, Inc.

Nathaniel David, Director of Business Development
Tele: 858/622-8528, ext. 4121
E-mail: ned@syrrx.com

Molsoft LLC

Crystal Crawford, General Counsel
Tele: 858/625-2000, ext. 102
E-mail:

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