PISCATAWAY, N.J., Dec. 16 /PRNewswire-FirstCall/ -- HMGene, Inc., a privately-held drug discovery company pioneering novel therapies for metabolic disorders, announced today that it has signed an agreement regarding one of its proprietary obesity targets with Suntory Pharmaceutical Research Laboratories LLC (SPRL), Cambridge, MA. The purpose of this agreement is to pursue the discovery and development of drugs for obesity.
Through its proprietary ADIPOSENSE(TM) technology, HMGene has identified a series of molecular targets to treat obesity. HMGene has also demonstrated that several targets identified by ADIPOSENSE(TM) can be modulated either to prevent fat deposition or to increase fat mobilization by stimulating its breakdown from fat depots. The company's collaboration with SPRL is aimed at identification of small-molecule lead compounds against one of HMGene's proprietary obesity targets. "This agreement signifies validation of our technology in this vast area of unmet therapeutic need, and we are pleased to be working with the distinguished team at SPRL," said Leland Gershell, M.D., Ph.D., HMGene's Chief Executive Officer.
HMGene is an early-stage biotechnology company dedicated to the development of novel pharmaceuticals directed toward metabolic disorders, with a focus on obesity. The seminal findings supporting HMGene's approach are the result of over ten years of research by Dr. Kiran Chada, Chief Scientific Officer of HMGene and Professor of Biochemistry at the Robert Wood Johnson Medical School in Piscataway, New Jersey. HMGene has been funded since its inception by the Small Business Innovation Research program of the National Institutes of Health.
This press release contains "forward-looking" statements, including statements related to HMGene's efforts to develop anti-obesity compounds. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause the results of HMGene to differ materially from those indicated by these forward-looking statements, including, among others, risks and uncertainties relating to difficulties or delays in the development of the Company's drug candidates. HMGene does not undertake any obligation to update forward-looking statements.
CONTACT: Hena R. Ashar, Ph. D., Vice President for Research of HMGene,Inc., +1-732-235-3973, Fax: +1-732-235-3965