Nasdaq Biotech Index component changes

New York: Effective with the market open on 20 May 2002, the components of Nasdaq Biotechnology Index will change.

The following issues will be added to the Nasdaq Biotechnology Index: Amylin Pharmaceuticals, (Nasdaq:AMLN); Array BioPharma (Nasdaq:ARRY); BioMarin Pharmaceutical (Nasdaq:BMRN); Diversa Corporation (Nasdaq:DVSA); Ligand Pharmaceuticals (Nasdaq:LGND); Novavax (Nasdaq:NVAX); Qiagen NV (Nasdaq:QGENF); and Telik (Nasdaq:TELK).

Amylin Pharmaceuticals, headquartered in San Diego, California, is engaged in the discovery, development and commercialisation of potential drug candidates for the treatment of diabetes and other metabolic disorders.

Array BioPharma, headquartered in Boulder, Colorado, is a drug discovery company creating small molecule drugs through the integration of chemistry, biology and informatics. Its scientists use an integrated set of drug discovery technologies called the Array Discovery Platform, to invent small molecule drugs in collaboration with leading pharmaceutical and biotechnology companies and to build its own pipeline of proprietary drug candidates.

BioMarin Pharmaceutical, headquartered in Novato, California, specialises in the development and commercialisation of therapeutic enzyme products to treat serious, life-threatening diseases and conditions.

Diversa Corporation, headquartered in San Diego, California, applies proprietary genomic technologies for the rapid discovery and optimisation of novel products from genes and gene pathways. Diversa is directing its integrated portfolio of technologies to the discovery, evolution, and production of commercially valuable molecules with pharmaceutical applications, such as optimised monoclonal antibodies and orally active drugs, as well as enzymes and small molecules with agricultural, chemical, and industrial applications.

Ligand Pharmaceuticals, headquartered in San Diego, California, discovers, develops and markets new drugs that address critical unmet medical needs of patients in the areas of cancer, skin diseases, men’s and women’s hormone-related diseases, osteoporosis, metabolic disorders, and cardiovascular and inflammatory diseases. Ligand’s proprietary drug discovery and development programs are based on gene transcription technology, primarily related to intracellular receptors (IRs) and signal transducers and activators of transcription (STATs).

Novavax, headquartered in Columbia, Maryland, is a specialty biopharmaceutical company engaged in the research, development and commercialisation of proprietary products focused on women’s health and infectious diseases. Novavax’s principal technology platform involves the use of proprietary, microscopic, organised, non-phospholipid structures as vehicles for the delivery of a wide variety of drugs and other therapeutic products. In addition, Novavax conducts research and development on preventative and therapeutic vaccines for a variety of infectious diseases.

Qiagen NV, a Netherlands holding company, is a provider of enabling technologies and products for the separation, purification and handling of nucleic acids. In addition, the company is positioning its products for sale into developing commercial markets, including DNA sequencing and genomics, nucleic acid-based molecular diagnostics, and genetic vaccination and gene therapy.

Telik, headquartered in South San Francisco, California, is a biopharmaceutical company developing novel drugs for the treatment of cancer and other serious diseases for which there is significant demand for new therapies. Telik’s product candidates were discovered using its proprietary chemogenomics technology, TRAP, which enables the rapid and efficient discovery of small molecule drug candidates.

As a result of the re-ranking the Praecis Pharmaceuticals SuperGen will be removed from the index.

The Nasdaq Biotechnology Index includes companies primarily engaged in using biomedical research for the discovery or development of novel treatments or cures for human disease. In addition, all securities in the Index are listed on the Nasdaq National Market and meet minimum requirements for price, market value, average daily share volume and seasoning as a public company. The Index is ranked on a semi-annual basis in May and November. For more information about the Nasdaq Biotechnology Index, including eligibility criteria, visit www.nasdaq.com.