BIO IT Coalition Awards Avalon Pharmaceuticals 2006 Best Practices Company Award
May 16 2006 - 1:00PM
PR Newswire (US)
GERMANTOWN, Md., May 16 /PRNewswire-FirstCall/ -- Avalon
Pharmaceuticals, Inc. (Nasdaq and ArcaEx(R): AVRX), a
biopharmaceutical company focused on the discovery and development
of small molecule therapeutics, today announced that it was awarded
the 2006 BIO IT Best Practices Company Award. The award was
presented by the BIO IT Coalition at their 5th Annual Conference
held at George Mason University, on May 4-5, 2006. The BIO IT
Coalition Company Award is given to the company whose imagination,
innovation and intelligent risk-taking in the application of IT in
the life sciences has led to the most dramatic progress in the
advancement of BIO IT either through its own development or its
influence on the industry. "We are honored to be selected by the
BIO IT Coalition for this award," commented Kenneth C. Carter,
Ph.D., President and Chief Executive Officer of Avalon
Pharmaceuticals, Inc. "We are at an exciting stage in the use of
our unique technology, AvalonRx(R), as we work to produce the next
generation of cancer medicines and guide their development through
the use of our proprietary biomarker strategies. Our partnerships
with companies like Novartis and MedImmune also allow us to expand
the opportunities that AvalonRx(R) provides to other disease
categories, helping us continue to strive toward practical
innovation." About Avalon Pharmaceuticals Avalon Pharmaceuticals is
a biopharmaceutical company focused on the discovery and
development of small molecule therapeutics through the use of a
comprehensive, innovative and proprietary suite of technologies
based upon large-scale gene expression analysis which it calls
AvalonRx(R). This platform facilitates drug discovery by expanding
the range of therapeutic targets for drug intervention, including
targets and target pathways frequently considered intractable using
conventional HTS approaches, allows more informed decisions about
which compounds to advance towards clinical trials, and facilitates
drug development through identification of biomarkers of efficacy
that can stratify patients or provide early indicators of response.
Avalon's focus is oncology but has discovery programs in other
therapeutic areas with partners. Avalon Pharmaceuticals was
established in 1999 and is headquartered in Germantown, Maryland.
For more information please visit http://www.avalonrx.com/ About
the BIO IT Coalition The BIO IT Coalition bridges the life sciences
and information technology industries to promote the growth of the
Bio IT industry through interactive, content driven programs which
highlight innovation, investment, education, collaboration and
partnership. This industry expansion will result in faster
development and delivery of new therapies and diagnostics, better
patient care, and other life science related technologies, goods
and services. Each year the Coalition hosts a Conference for the
purpose of bringing members of the bio IT community together to
hear about cutting edge technologies and the state of the industry.
This year's Conference -- Using Advanced Information Technologies
to Develop Personalized Medicine /Healthcare was sponsored by AMRN,
Inc; Arlington County Office of Economic Development; Intellor,
Inc.; George Mason University-School of Science; The Volgenau
School of IT and Engineering; Pepper Hamilton LLP and Wachovia
Bank. For more information please visit
http://www.bioitcoalition.org/ This press release includes
forward-looking statements based on Avalon's management's current
expectations. Factors that could cause future results to differ
materially from such expectations include, but are not limited to:
the ability to secure future funding; the success of the Companies'
research strategies; the applicability of the discoveries made
therein; the difficulties inherent in the development of
pharmaceuticals, including uncertainties as to the timing and
results of preclinical studies; delayed achievements of milestones;
reliance on collaborators; uncertainty as to whether the Companies'
potential products will succeed in entering human clinical trials
and uncertainty as to the results of such trials; uncertainty as to
whether adequate reimbursement for these products will exist from
the government, private healthcare insurers and third-party payors;
and the uncertainties as to the extent of future government
regulation of the pharmaceutical business. Contacts: Avalon
Pharmaceuticals, Inc. Noonan Russo Gary Lessing Wendy Lau (Media)
Executive Vice President and CFO Tel: (212) 845-4272 Tel: (301)
556-9900 Fax: (301) 556-9910 Jane Petrino (Investors) Email: Tel:
(212) 845-4274 DATASOURCE: Avalon Pharmaceuticals, Inc. CONTACT:
Gary Lessing Executive Vice President and CFO, Avalon
Pharmaceuticals, Inc., +1-301-556-9900, Fax: +1-301-556-9910, ;
Wendy Lau (Media), +1-212-845-4272, or Jane Petrino (Investors),
+1-212-845-4274, both of Noonan Russo for Avalon Pharmaceuticals,
Inc. Web site: http://www.avalonrx.com/
http://www.bioitcoalition.org/
Copyright