VASTox signs two drug discovery collaboration deals worth a combined EUR 1 Million
Collaborations with Rottapharm and an unnamed European biotech company leverage on VASTox's zebrafish chemical genomics platform and medicinal chemistry expertise
VASTox plc announced that it has signed two long-term chemical genomics deals with a combined value of EUR1 million. The first deal sees VASTox entering into a long-term drug discovery and toxicology screening collaboration with the multinational pharmaceutical company Rottapharm S.p.A. The total deal is worth up to EUR365,000 over 12 months, which includes an upfront payment and research funding milestones.
Under the terms of this deal, VASTox and Rottapharm will collaborate in the generation of a screening model for osteoarthritis that will test potential drug candidates and therefore accelerate Rottapharm's discovery programme. In addition, VASTox will provide predictive safety and toxicology testing using its proprietary vivoTM technology platform, which shall ensure, early in the discovery process, that only high quality compounds are selected. This deal follows a successful pilot project in 2006.
The second deal announced is with an unnamed European biotechnology company and will use VASTox's medicinal chemistry expertise and experience in a research collaboration to support one of the client's drug discovery programmes. This deal will see VASTox paid up to EUR635,000 over 10 months and was secured after VASTox had successfully completed previous service contracts with the company.
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