LONDON, December 13 /PRNewswire/ -- Inpharmatica Ltd, the selective drug discovery company, today announced a discovery collaboration with Novartis Institutes for BioMedical Research, the pharmaceuticals research organization of Novartis AG .
Under the terms of this agreement, in return for an undisclosed sum, Novartis Discovery Technologies will use Inpharmatica's Chematica(TM) technology to identify molecular targets, for Novartis' bioactive compound project.
Chematica(TM) is the unique chemogenomics component of PharmaCarta(TM), Inpharmatica's gene to candidate platform, and seamlessly bridges the gap between biology and chemistry. Chematica(TM) is capable of target selection through druggability assessment and rapid identification of hits and leads against those targets.
Commenting on the announcement, Malcolm Weir, Chief Executive Officer of Inpharmatica, said:
"This is a very exciting collaboration for Inpharmatica. Novartis is a premier drug discovery company and we are proud that they have chosen our technology to assist in their drug discovery efforts. We are confident that Chematica(TM) will follow the successful Biopendium(TM) licensing programme and prove indispensable for drug discovery for many of the world's significant pharmaceutical and biotechnology companies."
Founded in 1998, Inpharmatica Ltd is a selective drug discovery company using predictive technologies to improve speed and productivity. Focusing on highly druggable targets, its unique proprietary platform, PharmaCarta(TM), is an integrated suite of informatics-based technologies fully capable of rapid gene to candidate operations. Inpharmatica's lead discovery programme is focused on generating pre-clinical candidates against 16 novel nuclear receptors - proteins widely considered to be both druggable and of high therapeutic interest. Other significant programmes include novel secreted proteins/antibody targets, ion channels, P450 enzymes, metalloproteinases and progestin receptors.
The Company employs approximately 100 professionals at its UK locations in London and Cambridge, with business development headed in North America. Inpharmatica has raised some GBP 49m from leading venture capitalists and has sales/collaboration partnerships with Serono, Pfizer, GSK, Aventis, Daiichi, Riken, Taisho, Chugai, MDL, Ionix, CellZome and Galapagos. Inpharmatica's Chematica(TM) technology is endorsed by Procter & Gamble who signed a collaboration agreement in May 2004.
CONTACT: For more information, please contact: Andrew Lloyd &Associates, Andrew Lloyd, Tel: +44-1273-675100 email@example.comInpharmatica, Dr Malcolm Weir, Chief Executive Officer, Tel:+44-20-7074-4600 Dr Vimal Mehta, SVP, Business Development Tel:+1-203-453-6525