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ComGenex Inc. Transfers To Echelon Biosciences Inc. Jointly Developed Intellectual Property For Cancer Compounds



10/19/2005 5:12:36 PM

BUDAPEST, Hungary, February 1 /PRNewswire/ -- ComGenex today announced it finalized an agreement with Echelon Biosciences Inc., a subsidiary of Aterna Zentaris , to transfer all rights to develop, manufacture and market certain PI3K inhibitors that were created under their joint drug discovery program. As part of the transduction signaling technology, these novel compounds could lead to new highly-effective treatments for some forms of cancer. Financial details were not disclosed.

Dr. Laszlo Urge, CEO of ComGenex Inc., commented "As Echelon is aggressively pursuing these drug discovery and development programs in the field of oncology, we think we made the best choice. In these research programs, ComGenex applied its integrated discovery capabilities such as chemo-informatics technologies for the design, ADME applications, as well as medicinal chemistry for creating drug candidates. This demonstrates that our strategy of moving into high value creation discovery services is going as we planned."

Dr. Ferenc Darvas, President of ComGenex Inc., commented, "We are proud that a world class oncology therapeutic company such as Echelon is willing to acquire and develop the intellectual property we jointly created. The success of the current drug discovery collaboration creates the basis for further successes. This collaboration has been a win-win relationship for both companies."

About ComGenex Inc.:

ComGenex Inc. is a Budapest based contract research company, providing a wide range of medicinal chemistry, ADME and biological services to the pharmaceutical and biotechnology industry. (http://www.comgenex.com/)

About Aterna Zentaris Inc.:

Aterna Zentaris Inc. is an oncology and endocrine therapy focused biopharmaceutical company with proven expertise in drug discovery, development and commercialization. (http://www.aeternazentaris.com/)

ComGenex, Inc.

CONTACT: Contacts: Dr. Laszlo Urge, Chief Executive Officer, AdriennBollok, Marketing Manager, +36-1-214-2306


Read at BioSpace.com


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