12/08/2009 01:00 PM

Rib-X Pharmaceuticals Expands License Agreement with Yale University on New Ribosome Technology

NEW HAVEN, Conn., Dec. 8 /PRNewswire/ -- Rib-X Pharmaceuticals, Inc., a company focused on the discovery, development and commercialization of novel drugs for the treatment of serious multi-drug-resistant infections, announced today it has entered into a further license agreement with Yale University in the area of ribosome and antibiotic structure and function. Under the agreement, Rib-X will further explore the high resolution crystal structure of new ribosome technology elucidated by Dr. Thomas Steitz and colleagues at Yale.

Dr. Steitz, who was recently awarded the Nobel Prize in Chemistry for 2009 by The Royal Swedish Academy of Sciences, is Sterling Professor of Molecular Biophysics and Biochemistry at Yale University and a Howard Hughes Medical Institute Investigator. He is also a Rib-X Co-Founder and Chair of the Scientific Advisory Board of the Company.

"This high resolution structure will become an important additional tool in the discovery of new antibiotic agents," said Susan Froshauer, Ph.D., Rib-X's President and CEO. "This further license is a natural extension of our relationship with Yale, and builds upon Dr. Steitz's Nobel Prize winning work and, in turn, will increase our understanding, on an atomic level, of the binding properties of antibiotics to the ribosome."

About Rib-X Pharmaceuticals, Inc.

Rib-X Pharmaceuticals, Inc. is a product-driven small molecule drug discovery and development company focused on the structure-based design of new classes of antibiotics. The Company currently has two drug candidates: delafloxacin, which is ready to enter Phase 3 clinical trials, and radezolid, whose oral form has been tested for safety and efficacy in two Phase 2 trials. Delafloxacin is a broad-spectrum fluoroquinolone with potent activity against quinolone-resistant Gram-positive bacteria, including methicillin-resistant S. aureus (MRSA). Radezolid, a new oxazolidione discovered by Rib-X using its structure-based drug design approach, is an oral/IV agent for the treatment of serious multi-drug-resistant infections. The Company also has two other structure-based discovery programs, Rx-04 and Rx-02. The Rx-04 discovery program is developing novel classes of antibiotics active against multi-drug resistant Gram-negative bacteria. The Rx-02 discovery program is focused on developing an IV/oral macrolide active against MRSA, multidrug-resistant Streptococcus pneumoniae, and S. pyogenes. Rib-X's underlying drug discovery engine capitalizes on its proprietary high-resolution crystal structure of the ribosome, which performs an essential role in protein synthesis. Many known, commercially valuable antibiotics exert their effects by binding to the bacterial ribosome. The Company's integrated research strategy, which combines state-of-the-art, proprietary computational analysis, X-ray crystallography, medicinal chemistry, microbiology and biochemistry, allows it to rapidly synthesize new agents designed to avoid typical antibiotic resistance mechanisms.

For further information please contact:


Media:
Irma Gomez-Dib
FD Life Sciences
Tel: 212-850-5761
irma.gomez-dib@fd.com

Investors:
John Capodanno
FD Life Sciences
Tel: 212-850-5705
John.capodanno@fd.com

SOURCE Rib-X Pharmaceuticals, Inc.



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