Corvas International to License Incyte Genomics LifeSeq® Gold Database Online Genome-based research on serine proteases to advance drug discovery for solid tumor cancers Palo Alto, CA, and San Diego, CA, August 1, 2001 -- Incyte Genomics, Inc. (Nasdaq: INCY), the leading genomic information company, and Corvas International, Inc. (Nasdaq: CVAS), a clinical-stage biopharmaceutical company, today announced the signing of a multi-year subscription for Incyte's industry leading LifeSeq® Gold database to advance Corvas' cancer research and development programs focused on serine proteases, a class of potential solid tumor drug targets. Financial terms were not disclosed. The LifeSeq Gold database provides researchers with a comprehensive view of the entire human genome by integrating proprietary expressed sequence tag (EST) and full-length gene sequence information, mapping data and public genomic sequence information. The database contains more than 120,000 transcribed, or expressed, genes of which approximately half are not commercially available elsewhere. Corvas will have non-exclusive rights to Incyte's full-length gene program in addition to high-quality sequence-verified cDNA clones, or copies of genes to facilitate the identification, validation and commercialization of new drug targets in the serine protease gene family. "We are integrating genome-based research with our expertise in serine protease therapeutics to expand the scope and potential proprietary position of our cancer programs," said Randall E. Woods, Chief Executive Officer of Corvas. "Pharmaceutical and biotech interest in serine proteases as important cancer targets is rapidly increasing. We believe access to new proteases afforded by Incyte's genomic database will facilitate our development of a leading position in the serine protease field." Corvas' expertise in protease modulation has been developed in conjunction with the Company's cardiovascular (thrombosis or blood clotting) and infectious disease (hepatitis C infection) programs that are based on synthetic small molecule inhibitors of serine proteases. Corvas has an active medicinal chemistry based program in the design of inhibitors to urokinase plasminogen activator (u-PA), which is a serine protease that has been implicated in the growth and progression of certain solid tumor cancers such as breast cancer. "This LifeSeq subscription is further evidence that the unique and expanding content in LifeSeq Gold will benefit creative companies such as Corvas in the pursuit of their internal research initiatives related to new cancer therapies," said Roy A. Whitfield, Chief Executive Officer of Incyte. "The Incyte LifeSeq Gold online product will also enable researchers at Corvas to utilize Incyte's vast computer processing power, and benefit from our industry leading position in generating and managing genomic information." The modulation of serine protease activity associated with solid tumors is the foundation of Corvas' discovery platform to develop new therapeutic strategies for the treatment of cancer. This effort includes the discovery and validation of novel serine proteases that may play a role in angiogenesis (formation of blood vessels) or tumor growth and progression as well as the validation of known proteases that have not been previously implicated in these processes. Target discovery coupled with Corvas' medicinal chemistry expertise in the design and synthesis of small molecule inhibitors of serine proteases provides a comprehensive discovery platform that the Company believes will accelerate the development of novel therapeutic approaches to solid tumor cancers. "We intend to advance our gene-family specific approach to cancer therapeutics using LifeSeq Gold to gain important new insights into the biology of the serine protease gene family," said George P. Vlasuk, Ph.D., Chief Scientific Officer of Corvas. "With LifeSeq Gold, we have the ability to prioritize target proteases for further development based on the expression profile (presence or absence of a particular protease) in normal versus diseased tissues. We believe this knowledge coupled with Incyte's intellectual property portfolio, which in our view is the strongest portfolio of genomic data in the industry, will create a highly competitive and powerful drug discovery engine for the development of an entirely new class of anti-cancer drugs." About Corvas and Incyte: Corvas International, Inc. is a clinical-stage biopharmaceutical company engaged in the design and development of a new generation of therapeutic agents for cardiovascular diseases, cancer and stroke. The Company's proprietary injectable anticoagulant rNAPc2 has completed a Phase II clinical trial for the treatment and prevention of deep vein thrombosis following orthopedic surgery and a Phase IIa trial in elective angioplasty patients. In addition, Corvas has a strategic alliance with Pfizer Inc. who is currently conducting a Phase IIb efficacy trial of UK-279,276 (formerly known as rNIF) in patients suffering from ischemic stroke. Corvas is also pursuing research for the treatment of solid tumor cancers, and the discovery of novel protease targets involved in solid tumor growth and progression. For additional information, visit Corvas's web site at http://www.corvas.com. Incyte Genomics, Inc. has developed the leading integrated platform of genomic technologies designed to aid in the understanding of the molecular basis of disease. Incyte develops and markets genomic databases and partnership programs, genomic data management software, microarray-based gene expression services, related reagents and services. These products, programs and services assist pharmaceutical and biotechnology researchers with all phases of drug discovery and development including gene discovery, understanding disease pathways, identifying new disease targets and the discovery and correlation of gene sequence variation to disease. In addition, Incyte has the largest portfolio of issued United States patents covering human full-length genes and the proteins they encode and is leveraging its intellectual property position to be a leader in therapeutic discoveries. For more information, visit Incyte's web site at http://www.incyte.com. This press release, including statements relating to Corvas that are not historical facts, and Corvas' web site at http://www.corvas.com, contains forward-looking statements including statements regarding the ability of Corvas to discover and develop novel cancer therapeutic approaches and anti-cancer drugs and the advancement of Corvas' cancer programs focused on serine proteases using genome-based research and the Incyte database within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could vary materially from those described as a result of a number of factors, including those set forth in Corvas' Annual Report on Form 10-K and any subsequent SEC filings. In addition, there is the risk that Corvas will not be successful in the development and commercialization of cancer drugs, that genome-based research will not assist Corvas in its development efforts, that new proteases afforded by Incyte's database will not facilitate a leading position in the serine protease field and that any drug candidates in Corvas' pipeline may never become marketable products. The Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this press release, except as required by law. Except for the historical information contained herein, the matters set forth in this press release, including statements as to the role that Incyte's products, proprietary technology and database information, including protease information, will play in third-party research programs and the extent to which genome-based research will assist researchers in their drug discovery efforts, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the extent to which genomic databases are utilized in pharmaceutical research and development; the ability of Incyte to provide products and services that meet market needs; the impact of competition and alternative technologies, processes and approaches; and other risks detailed from time to time in Incyte's SEC reports, including its Quarterly Report on Form 10-Q for the quarter ended March 31, 2001. These forward-looking statements speak only as of the date hereof. Incyte disclaims any intent or obligation to update these forward-looking statements.