CombiChem signs first lead optimization collaboration agreement.SAN DIEGO--(HealthWire)--April 24, 1996--CombiChem Inc. has announced the signing of its first lead optimization collaboration agreement with Teijin Limited of Japan. CombiChem is a rapidly growing combinatorial chemistry Combinatorial chemistry involves the rapid synthesis or the computer simulation of a large number of different but structurally related molecules. Introduction Synthesis of molecules in a combinatorial fashion can quickly lead to large numbers of molecules. and molecular discovery company which has attracted top investors and project partners from the venture capital and pharmaceutical industries. The agreement enables CombiChem and Teijin to embark on projects to discover antagonists antagonists, n muscles that counterbalance agonists during specific movements. opioid Neurology A pain-attenuating peptide that occurs naturally in the brain, which induces analgesia by mimicking endogenous opioids at opioid of a specific G-protein coupled receptor target. CombiChem will design and synthesize To create a whole or complete unit from parts or components. See synthesis. compound libraries based around Teijin's lead molecule. Teijin will perform screening and biological support. ``This first collaboration agreement is significant because it is a clear affirmation that CombiChem's integrated technologies will accelerate a successful drug discovery process,'' said Peter L. Myers, Ph.D., CombiChem's chief scientific officer and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . ``And, this is just the first of many collaborations.'' ``We expect that CombiChem's combinatorial chemistry will add a powerful new technology to our drug discovery process and enable us to optimize lead compounds within a shorter period of time,'' said Takeshi Hara, Ph.D., Teijin's general manager of the Planning & Research Division, Medical & Pharmaceutical Group. The agreement consists of an upfront payment by Teijin, as well as research costs, significant milestone payments and royalties which could lead to revenues for CombiChem in excess of $10 million over the life of the contract. Additionally, CombiChem has retained the North and South American rights to develop and market any product resulting from the collaboration. This is the first step in what is expected to be a long-term relationship between the two companies. CombiChem's mission is to provide fast, easy and transferable drug discovery technology. The company, founded in 1994, has a unique, proprietary technology integrating combinatorial chemistry with computational drug design, bioinformatics and automated chemical synthesis In chemistry, chemical synthesis is purposeful execution of chemical reactions in order to get a product, or several products. This happens by physical and chemical manipulations usually involving one or more reactions. . Customers will benefit from access to a broad range of innovative, patented compounds which they will receive much earlier than through traditional medicinal methods. CombiChem is entering into strategic research collaborations, based on its combinatorial chemistry and instrumentation expertise, with pharmaceutical, biotechnology and agrochemical agrochemical Any chemical used in agriculture, including chemical fertilizers, herbicides, and insecticides. Most are mixtures of two or more chemicals; active ingredients provide the desired effects, and inert ingredients stabilize or preserve the active ingredients or aid companies. Teijin is a corporation with headquarters in Osaka, Japan, and is engaged in pharmaceutical and home health-care businesses, as well as synthetic fibers and plastics. CombiChem is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. with headquarters in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. . CONTACT: Friestedt International, San Diego Susanne Friestedt, 619/223-8844 or CombiChem Inc., San Diego Peter L. Myers, 619/530-0484 |
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