Nuevolution Generates World's Largest Drug Library And Identifies Novel High Potency Cancer Leads

19-Apr-2004

Copenhagen. Nuevolution A/S, a privately held drug discovery company announced that it has generated what it believes to be the world's largest drug-like library comprising 100 million diverse compounds synthesised in a single test tube. The Company also identified novel drug lead candidates that inhibit the cancer target, integrin avBeta3 directly from this unprecedented library. Both library generation and lead candidate identification were performed in days using Nuevolution's proprietary Chemetics (r) drug discovery technology.

"The generation of this unique "ultra-large" compound library and the subsequent rapid identification of novel high potency drug candidates clearly demonstrate the tremendous power of Chemetics (r) and represent a major milestone to establishing Nuevolution as a leading drug discovery Company", commented Zahed Subhan PhD, Chief Executive Officer of Nuevolution A/S. Chemetics (r) is poised to truly revolutionize the drug discovery process - it is the only technology available today that successfully combines ultra-large libraries of billions to trillions of drug-like small molecules with an accurate selection method that can efficiently handle such enormous numbers of compounds".

"We are looking forward to building on these impressive achievements by consolidating our internal drug discovery pipeline as well as forging drug discovery alliances with leading pharmaceutical and biotech companies", added Dr Subhan.

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Nuevolution is a unique drug discovery company poised to revolutionize drug discovery and development by utilizing its proprietary Chemetics (r) technology to rapidly generate tens to hundreds of potent, structurally diverse, small molecule clinical candidates to virtually any target in a matter of weeks.

Chemetics (r) represents the ultimate "convergent" drug discovery technology - it is a unique, patent protected hybrid of proven wet chemistry and molecular biology approaches that enables the rapid synthesis and accurate selection of billions to trillions of chemically diverse, drug-like compounds in a single test tube. Chemetics (r) allows Nuevolution to generate unprecedented numbers of potent and (target sub-type) selective drug leads in weeks, thus addressing the major current bottleneck in drug discovery and development.

By applying it's Chemetics (r) technology to recognised disease targets, Nuevolution has identified novel, drug-like, small molecules with the potential to address major unmet medical needs.

Nuevolution also seeks to leverage its broadly applicable Chemetics (r) drug discovery engine through drug discovery partnerships with leading pharmaceutical and biotechnology companies.

Nuevolution A/S currently employs 31 world class scientists and business professionals, including 18 Ph.D. qualified individuals. The company was founded in May 2001 and is currently headquartered in Copenhagen, Denmark.

To date, Nuevolution has raised $ 24 million in venture capital based on the ongoing development of its proprietary Chemetics (r) technology. Investors include Novo A/S, Nordic Biotech K/S, The Danish Investment Fund, SEB Företagsinvest and Scandinavian Life Science Venture. Nuevolution recently (October 2003) closed the first round of a Series B financing amounting to $ 15 million.

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