BRISTOL-MYERS INVESTING IN CADUS UP TO $45 MIL FOR SCREENING TECHNOLOGY

Executive Summary

BRISTOL-MYERS INVESTING IN CADUS UP TO $45 MIL FOR SCREENING TECHNOLOGY based on yeast strains. Ac cording to New York City based Cadus Pharmaceutical, advantages of the yeast-based screening system include: isolating novel molecular targets for drug discovery; the ability to measure "the biological activity of a compound, not merely its binding capability"; and quick results, "easy automation and stable storage." A joint committee will supervise research at Cadus and at BMS research facilities in Princeton, NJ., Wallingford, Conn. and Seattle, Wash.