November 11, 2001
ALYDAR PHARMACEUTICALS TO TAP CHEMNAVIGATOR'S CHEMINFORMATICS EXPERTISE TO ENHANCE PHEROMICS™ PRODUCT PLATFORM

SAN DIEGO, CA and MOUNTAIN VIEW, CA - ChemNavigator, a cheminformatics company, and Alydar Pharmaceuticals, a pharmaceutical product-platform company, announced today that they have entered into a one-year cheminformatics services agreement, with the option to extend to a second year. Under the agreement, ChemNavigator will perform extensive cheminformatics analysis on Alydar's Pheromics™ library of infochemicals to help pinpoint their therapeutic potential.

"We chose to work with ChemNavigator because of their impressive suite of cheminformatics technologies, as well as the important content databases they manage," said Rivka Sherman-Gold, Ph.D., president and CEO of Alydar. "The analysis they will perform will provide us valuable insights about the potential therapeutic uses of the compounds in our Pheromics library of infochemicals, and will complement the biological and pharmacological activity data that we are generating."

ChemNavigator will use its proprietary iResearch™ System and its ChemGuide™ content databases to perform several billion chemical-structure analyses of compounds in Alydar's Pheromics library of infochemicals, using the more than two million chemical structure records in ChemNavigator's content databases. ChemNavigator will continue to monitor the cheminformatics data landscape over the term of the agreement and notify Alydar when new information relevant to their library becomes available.

"Our goal in this agreement is to quickly enhance the scientific knowledge surrounding Alydar's infochemicals in order to assist them in expediting the drug discovery process," said Scott Hutton, president and CEO of ChemNavigator. "We have spent the last two years building very unique cheminformatics technologies and gathering scientific information relevant to drug discovery. Our relationship with Alydar gives us the opportunity to use these resources for the benefit of advancing the development of Alydar's novel therapeutics for treating major human diseases."

About Alydar Pharmaceuticals, Inc.
Alydar Pharmaceuticals (www.alydarpharma.com) is a privately held biopharmaceutical company developing a new product platform, Pheromics™, as a source of therapeutic products to treat major human diseases, including cardiovascular, neurological, psychiatric, cancer and pain. The company's product platform is derived from a unique library of pure, biologically active, highly diverse and well-characterized compounds known as infochemicals that serve as chemical communication modalities between organisms of the same or different species. Alydar intends to commercialize its Pheromics library and advance its product pipeline through relationships with pharmaceutical and biotechnology companies. The Israel-based Alydar Pharmaceuticals Ltd. and its U.S. subsidiary, Alydar Pharmaceuticals, Inc., received seed funding from the Israel-based Medison Biotech.

About ChemNavigator, Inc.
ChemNavigator is bringing order to the world of chemical information through its powerful cheminformatics technology. The company's proprietary iResearch™ System is the fastest and most comprehensive chemical-structure-based search and comparison system in the world. ChemNavigator also aggregates and manages more than two million chemical-structure records through its iResearch System Library of commercially accessible compounds, and its ChemGuide™ databases of scientific information.



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