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Quark Biotech and Cleveland Clinic Foundation Announce a Multi-Year Research Collaboration; Quark Will Also Move Headquarters to the Cleveland Site

Business Wire, May 30, 2001

Business Editors & Health/Medical Writers

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CLEVELAND--(BW HealthWire)--May 30, 2001

Quark Biotech, Inc. (QBI), and The Cleveland Clinic Foundation today announced a multi-year research collaboration aimed at advancing the emerging science of genomics, and developing a powerful genomic technology platform for the creation of promising new medicines for difficult-to-treat diseases.

As part of the collaboration, QBI will move its headquarters to the Cleveland Clinic Campus. The agreement provides the framework for collaboration between QBI and the Cleveland Clinic.

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"We are very excited about the QBI agreement," said George R. Stark, Ph.D., Chairman, Lerner Research Institute, The Cleveland Clinic Foundation. "They bring state-of-the-art genomics technology to the drug discovery process. And with QBI relocating its headquarters to the Cleveland Clinic campus, the collaboration will help to strengthen biotechnology in Cleveland and help attract more biotech companies to our region."

"We believe that combining forces in this collaboration with an outstanding institution such as the Cleveland Clinic, will help us break new ground in molecular medicine," said Daniel Zurr, Ph.D., chief executive officer and founder of QBI. "This is a breakthrough in relations between industry and academia. The cross-fertilization of ideas will have a synergistic effect on our efforts in every phase of our joint research and development. As a result, we hope to generate an accelerated stream of therapeutic targets for innovative products that will provide clinicians with new, more comprehensive ways to treat difficult diseases."

Principal investigators for the first joint research project will be Dr. Stark and Dr. Andrei Gudkov, who will come from the University of Illinois, Chicago to join the Cleveland Clinic team as the Chairperson of the Department of Molecular Biology.

About the Cleveland Clinic Foundation

The Cleveland Clinic Foundation, founded in 1921, integrates clinical and hospital care with research and education in a private, non-profit group practice. Approximately 1,100 full-time salaried physicians at the Cleveland Clinic and Cleveland Clinic Florida, representing more than 100 medical specialties and subspecialties, provided care through more than 2 million outpatient visits and 51,000 hospital admissions in 2000 for patients from throughout the United States and more than 80 countries.

With more than 3,000 available beds, the Cleveland Clinic Health System, formed in 1996, offers broad geographic coverage and a full continuum of high quality care. It includes The Cleveland Clinic Foundation; Cleveland Clinic Florida, a multi-specialty group practice near Fort Lauderdale; Cleveland Clinic Florida Hospital Naples; and the Cleveland Clinic Children's Hospital for Rehabilitation. The Cleveland Clinic Health System also includes eight respected community-based providers: Euclid, Fairview, Hillcrest, Huron, Lakewood, Lutheran, Marymount and South Pointe hospitals. Ashtabula County Medical Center and Grace Hospital are affiliated with the Cleveland Clinic Health System.

About Quark Biotech, Inc.

QBI, founded in 1994, is an established, privately held U.S. Company. It is a genomic-based drug discovery and pharmaceutical company with the expertise and proprietary technology platform to find and understand the biological functions of genes critical to virtually any disease. This leads to a unique ability to identify ideal "targets" for pharmaceutical intervention within months instead of years and development of better drugs faster.

QBI's broad technology platform includes library preparation methods, functional profiling, comprehensive expression profiling, DNA chip technology, bioinformatic methods and algorithms, bioassays and readouts, high throughput screening of chemical libraries, pharmacogenomics, toxicogenomics and product development capabilities.

The Company is engaged in a variety of research projects aimed at developing pharmaceutical products in major disease areas such as: breast cancer, bladder cancer and other solid tumors, fibrotic diseases, cardiovascular and ischemic diseases, stroke, osteoporosis, and diabetes.

QBI's global team includes more than 200 people, 100 of whom are Ph.D.s with backgrounds in molecular and cell biology, gene discovery, signal transduction, pathology, chemistry, medicine algorithm development and others.

QBI has additional research facilities located in the Weizmann Science Park, Ness-Ziona, Israel and Chicago, Illinois.

Business Services Industry

Quark Biotech and Cleveland Clinic Foundation Announce a Multi-Year Research Collaboration; Quark Will Also Move Headquarters to the Cleveland Site

Business Wire, May 30, 2001

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