ASINEX Ltd and Biovitrum announce a 3 year drug discovery collaboration

25-Nov-2004

ASINEX Ltd and Biovitrum AB have entered into a drug discovery and development collaboration. During the initial three years of the collaboration, drug discovery activities will be focused on finding and optimizing leads suitable for advancing into pre-clinical development for multiple targets proposed by Biovitrum in the field of metabolic diseases.

Under the terms of this agreement, Biovitrum will access ASINEX highly competitive drug discovery capabilities, including novel libraries of drug-like molecules and expertise in lead development and optimization. The collaboration will take advantage of the Biovitrum expertise in metabolic diseases to identify and progress attractive candidate drugs through preclinical and clinical development. The drug discovery collaboration will be performed on a shared risk basis up to the selection of clinical candidates.

ASINEX will be eligible for milestones and royalties. Separately, ASINEX will also provide computational chemistry, screening and medicinal chemistry in order to generate lead series for other undisclosed targets proposed by Biovitrum on a fee-for-service basis.

"ASINEX is well known as a leading provider of high quality compounds for HTS and medicinal chemistry services, and we are seeing that more and more companies are selecting ASINEX as their partner of choice for fully integrated Lead Discovery Services," said Dmitry Genis, ASINEX's CEO. "In this collaboration we will combine our computational, medicinal chemistry and screening experience. This is an excellent validation of our drug discovery platform."

Mats Pettersson, CEO of Biovitrum stated, "the shared risk drug discovery collaboration with ASINEX allows Biovitrum to cost-effectively expand its drug discovery project portfolio and increase the delivery of drugs for clinical development."

https://www.bionity.com/en/news/41119/asinex-ltd-and-biovitrum-announce-a-3-year-drug-discovery-collaboration.html