Graffinity and Rigel enter into drug discovery research alliance
Graffinity Pharmaceuticals GmbH announced that it has entered into a drug discovery collaboration with Rigel Pharmaceuticals, Inc. In this collaboration Graffinity will provide Rigel with access to its proprietary, fragment-based discovery technology for use against Rigel drug targets. Under the terms of the agreement, Graffinity will receive technology access fees, success milestones, and optional payments for follow-up chemistry for the generation of novel small molecule hits. Financial details of the transaction were not disclosed.
Mathias Woker, Chief Business Officer of Graffinity, stated, "Our collaboration with Rigel demonstrates again that Graffinity's fragment based drug discovery technology is one of the most important, rapid and reliable alternatives to standard primary screening techniques for the identification of NCEs. When leading biotechnology companies, such as Rigel, choose to work with us, they know that they significantly increase their chances of finding truly novel small molecule drugs against challenging drug targets. Graffinity's SPR imaging technology together with its large and diverse 23,000 fragment screening library provides a wealth of drug discovery information that remains unparalleled today."
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