Kos Pharmaceuticals (KOSP) Announces Strategic Investment In Triad Pharmaceuticals Giving Kos Access To New Chemical Entities In Key Therapeutic Areas
10/19/2005 5:12:39 PM
CRANBURY, N.J.--(BUSINESS WIRE)--Feb. 7, 2005--
-- Kos completes $4 million of its aggregate $8 million equity investment in privately held drug discovery and drug design pharmaceutical company
-- Investment complements sponsored research arrangement previously made with Triad centered on discovery and design of novel regulators for HDL cholesterol
Kos Pharmaceuticals, Inc. (Nasdaq:KOSP) today announced that it has made a strategic investment in Triad Pharmaceuticals, Inc. ("Triad"), a privately held drug discovery and design pharmaceutical company focused on developing molecules for a variety of diseases, including orally active therapies for cholesterol disorders, diabetes and cancer. The strategic initiative consists of an aggregate $8 million equity investment, which builds on its ongoing sponsored research arrangement, in which, on behalf of Kos, Triad is designing and synthesizing certain new chemical entities that regulate HDL (the "good") cholesterol. This alliance with Triad will broaden Kos' research and development efforts to include the discovery and synthesis of new chemical entities, leveraging Kos' existing competency in drug delivery and development.
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