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Odyssey Thera Announces Milestone Achievement in Pfizer Alliance

Thursday, August 7, 2008 General News
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SAN RAMON, Calif., Aug. 7 Odyssey Thera, Inc. announcedthat it has received a milestone payment from Pfizer Inc, following Pfizer'sdecision to progress a discovery stage drug candidate into pre-clinicaldevelopment. The drug candidate was extensively studied by Odyssey Thera aspart of the ongoing collaboration with Pfizer.
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"We are very pleased with the progress of the collaboration with Pfizer,"said John K. Westwick, Ph.D., Odyssey Thera's President and CEO. "Progress onthis and other discovery programs with Pfizer demonstrates the power of ourunique cellular analysis platform to improve knowledge of drug mechanisms andselectivity."
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In August 2006, Odyssey Thera announced its third alliance with Pfizer.Under the terms of the multi-year agreement, Odyssey Thera is collaborating onmultiple Pfizer drug discovery projects, and has received upfront payments,research and capital expenditure funding, and previous success-basedmilestones. The achievement of this milestone announced today is the Company'sfirst such milestone to be earned for contributing to the advancement of adrug candidate.

About Odyssey Thera, Inc.

Odyssey Thera's patented technology measures disease-relevant pathwayactivity within living human cells. Rapid identification of on-target andoff-pathway activities of lead compounds enables selection of drug candidateswith favorable safety and selectivity profiles. Odyssey is leveraging itsproprietary drug discovery and development platform for internal programs andfor premier pharmaceutical company partners.

To learn more about Odyssey Thera, please visithttp://www.odysseythera.com

SOURCE Odyssey Thera, Inc.
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