Structural Bioinformatics Inc. (SBI), founded in 1996 in San Diego, CA, and its wholly owned subsidiary, SBI Advanced Technologies A/S, a Danish corporation founded in February 1998, provide unique, innovative I.T. solutions unifying genomics and combinatorial chemistry through a proprietary protein structure platform to accelerate drug discovery within the existing research infrastructure of the pharmaceutical industry. Working at the interface of computational and physical sciences, SBI's unique complement of scientists includes computational chemists, computer scientists, structural scientists (X-ray crystallography and NMR), molecular pharmacologists, molecular and cell biologists, and combinatorial and medicinal chemists. The Company's 18,000-square-foot San Diego operations include extensive supercomputational facilities and complete laboratory facilities for drug discovery and development up to and including animal-model studies. SBI-Advanced Technologies, A/S, located in Copenhagen, Denmark, is developing commercial applications of advanced information theories and structure prediction technologies developed under the direction of a group of distinguished scientists from the DTU (Technical University of Denmark).

A portion of the company's core technology was originally developed and validated at ImmunoPharmaceutics, Inc., by a technical group that includes the scientific founders of SBI. This technology was successfully used for the generation of endothelin antagonists, fibroblast growth factor antagonists, TNF antagonists, and others now in various stages of development through Phase IIB clinical trials. Over the course of the last 18 months, the technology has been dramatically advanced on many fronts. SBI Advanced Technologies is developing commercial applications of advanced information theories that are expected to further advance the company's position as the leading producer of high-quality protein structural information on an industrial scale. SBI has a strong international investor base that includes some of the largest leading institutional investors in North America, Asia and Europe, and a number of private investors largely associated with the pharmaceutical and biopharmaceutical fields.

At present, the Company derives revenues from target-specific drug discovery collaborations with "big pharma." In the second quarter of 1999, the Company began enlisting subscriptions to its proprietary structural bioinformatics database, SBdBase^TM, which provides genomics-derived structural information in a seamless interface with structure-based drug discovery and structure-focused high-throughput screening of fine chemical and combinatorial libraries.