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he Company anticipates that its drug discovery platform will accelerate the process of drug discovery and development by allowing drug candidates to reach Phase I faster and with considerably fewer resources than conventional methods of drug discovery.

In the in-house drug discovery program, the Company moved its first drug candidate (a 5-HT1A agonist) into clinical trials in Q1 2004. By the end of 2004, Predix expects to have a rich pipeline of drug candidates: one that has completed Phase I, two additional IND submissions (for 5-HT4 and 5-HT2B), and several programs in lead optimization and discovery phases.