Karo Bio and GPC Biotech successfully develop ten Assays for novel Anibacterial Targets

KARO BIO AND GPC BIOTECH SUCCESSFULLY DEVELOP TEN ASSAYS FOR NOVEL
ANTIBACTERIAL TARGETS

Martinsried/Munich (Germany), Waltham/Boston, MA (USA) and Huddinge,
Sweden, Durham, NC (USA), February 6, 2002.

Karo Bio USA, Inc., a wholly owned subsidiary of Karo Bio AB, and GPC
Biotech AG (Frankfurt Stock Exchange: GPC) today announced that their
technology collaboration has been successfully concluded in a period of
only 15 months with the development of 10 BioKey® molecular probe assays
for selected novel genomics-derived antibacterial targets proprietary to
GPC Biotech. GPC Biotech is using these BioKey® molecular probe assays
to develop high-throughput drug discovery screens (HTS) and has already
successfully concluded a HTS for one assay. Karo Bio has received
undisclosed milestone payments for the completion of these BioKey®
molecular probe assays.

The 10 BioKey® molecular probe assays provide GPC Biotech with a drug
discovery engine to identify lead compounds with potent antibacterial
activity with the goal of developing novel, more effective broad-
spectrum antibiotics. GPC Biotech retains all commercialization rights
and Karo Bio will receive royalties on developed compounds or out-
licensing.

“It has been a pleasure working with GPC Biotech. This collaboration has
proven the power of the BioKey® assay technology to rapidly develop
assays for the unique targets discovered and validated by GPC Biotech
using their innovative genomic tools,” said Dana Fowlkes, M.D., Ph.D.,
Chief Scientific Officer of Karo Bio.

“We are delighted with the results generated by Karo Bio which
contributed to a significant advance of our antibacterial programs. The
combination of GPC Biotech’s genomic approaches and Karo Bio’s assay
development technologies, now truly enables new drug discovery programs
based on an entirely novel set of antibacterial targets. We will now
focus on making the most of these opportunities to discover and develop
antibacterial compounds that will meet the needs of the future,”
commented Sebastian Meier-Ewert, Ph.D. Senior Vice President, Research
of GPC Biotech.

The proprietary BioKey® technology is used in drug discovery for
validation and screening of a wide variety of targets, including those
that are difficult or impossible to screen by traditional high
throughput methods. The technology uses surrogate ligands based upon
Karo Bio’s proprietary BioKey® molecular probe technology to develop
assays for the quick identification of small molecule lead compounds
that bind to the pharmacologically active sites of the target proteins.
This innovative technology is used for Karo Bio’s internal nuclear
receptor drug discovery programs and collaborative out-licensing
agreements with pharmaceutical and biotechnology companies.

The economic projections and forward-looking statements contained in
this document relate to future facts. Such projections and forward-
looking statements are subject to risks which cannot be foreseen and
which are beyond the control of GPC Biotech AG. GPC Biotech AG is
therefore not in a position to make any representation as to the
accuracy of economic projections and forward-looking statements or their
impact on the financial situation of GPC Biotech AG or the market in the
shares of GPC Biotech AG.

Huddinge, February 6, 2002
KARO BIO AB (publ)

For further information contact:

GPC Biotech AG Noonan/Russo Communications
Petra Bassen Ernie Knewitz
Head of Investor Relations & Vice President
Corporate Communications
Phone: +49 (0)89 8565-2691 Phone: +1 212 696 4455 ext. 204
Fax: +49 (0)89 8565-2610 Fax: +1 212 696 9463
petra.bassen@gpc-biotech.com e.knewitz@noonanrusso.com

Eva Schier
Investor Relations &
Corporate Communications
Specialist
Phone: +49 (0)89 8565-2693
eva.schier@gpc-biotech.com

Karo Bio AB
Per Otteskog
Senior Vice President
Direct phone: +46-8-608 6018
Mobile phone: +46-70-632 7527

Background

Karo Bio has operations in Sweden and the United States. The Company
employs 140 people.
Karo Bio has been listed on the Stockholm stock exchange (Reuters:
KARO.ST) since 1998 and maintains a leading position in the field of
drug discovery focused on nuclear receptors. Nuclear receptors are
validated drug targets for a number of clinical indications and the
Company uses proprietary technologies for the development of novel and
improved therapies for major markets. Karo Bio has 400 patent cases
including 128 granted patents.

Karo Bio has drug discovery programs in several therapeutic areas
including men and women’s health care, metabolic disorders such as
obesity, cardiovascular disease, diabetes, dermatology and
ophthalmology.

Karo Bio collaborates with major pharmaceutical companies for
development of products and marketing. In these partnerships Karo Bio
receives upfront payments, R&D funding, milestone payments as well as
royalties on net sales when products reach the market.

Karo Bio has strategic pharmaceutical drug discovery partnerships with
Abbott Laboratories, American Home Products, Bristol-Myers Squibb, Merck
& Co.

GPC Biotech AG is a genomics- and proteomics-driven drug discovery
company focused on applying a number of proprietary genomic, proteomic
and drug discovery technologies to accelerate the identification and
validation of novel drug targets for development of mechanism-based
drugs in oncology, infectious diseases and immunology. GPC Biotech has
leading cell cycle expertise and a broad intellectual property position.
Drug discovery alliance partners include: Aventis Pharma (PAVE.PSE),
Boehringer Ingelheim International GmbH, the Altana AG (ALT.FSE)
pharmaceuticals group Byk Gulden, Cell Genesys, Inc. (CEGE.NAS),
MorphoSys AG (MOR.FSE) and Karo Bio USA (KARO.SSE). GPC Biotech AG is
headquartered in Martinsried/Munich (Germany) with two wholly owned US
subsidiaries in Waltham/Boston, MA and in Princeton, NJ. For further
information, please visit the corporate website at: https://www.gpc-
biotech.com.

————————————————————
This information was brought to you by Waymaker https://www.waymaker.net
The following files are available for download:
https://www.waymaker.net/bitonline/2002/02/06/20020205BIT01080/bit0001.doc
https://www.waymaker.net/bitonline/2002/02/06/20020205BIT01080/bit0002.pdf