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ChemBridge Corporation Enters Into New Discovery Chemistry Strategic Alliance With AstraZeneca PLC (AZN) (JOBS)


9/24/2008 7:12:25 AM

SAN DIEGO, Sept. 24 /PRNewswire/ -- ChemBridge Corporation today announced new multi-year research collaboration in discovery chemistry with AstraZeneca. This new alliance follows the previous collaboration between ChemBridge and AstraZeneca that was established in 2006 and successfully completed earlier this year ahead of schedule. In accordance with the new agreement scientists from ChemBridge and AstraZeneca will work together to design and develop a new generation of highly advanced, research intensive small molecule libraries that further enhance AstraZeneca's global drug discovery effort. Further details and financial terms were not disclosed.

"We are very pleased to enhance and extend our strategic relationship with AstraZeneca, one of the world's leading pharmaceutical companies, and to continue to build upon our track record of successful teamwork with AstraZeneca," said Eugene Vaisberg, Chairman and CEO of ChemBridge Corporation and ChemBridge Research Laboratories, Inc. (CRL). "This major new deal, which is focused on the most challenging custom compound libraries, is further proof of ChemBridge's capabilities to succeed in the increasingly competitive global discovery chemistry outsourcing market by targeting its high-end segment and leveraging the skills, expertise and experience of ChemBridge's scientists."

Tony Wilkinson, Vice President, Lead Generation DECS, AstraZeneca added: "The success of our previous collaboration demonstrated the capabilities ChemBridge and CRL have in drug discovery chemistry and library synthesis. With our new alliance we are confident that this more challenging project will be executed with similar success."

About ChemBridge Corporation

ChemBridge Corporation, http://www.chembridge.com, is leading global discovery chemistry CRO and screening compound library provider with an impeccable 15 year track record of quality and deliverability. ChemBridge is a San Diego based US company which operates a state-of-the-art offshore discovery chemistry research site in Moscow, Russia. ChemBridge Group also includes entirely San Diego based US research site, ChemBridge Research Laboratories, Inc. (CRL), which is now exclusively focused on ultra-fast turnaround custom hit-to-lead libraries. ChemBridge's CRO business includes multi-year strategic alliances with major pharmaceutical companies such as Pfizer, Merck, and AstraZeneca, as well as smaller discovery chemistry research outsourcing collaborations with mid-size pharmaceutical and biotech companies, such as UCB and others. Over 500 pharmaceutical and biotech companies and universities worldwide have also taken advantage of ChemBridge's portfolio of advanced discovery chemistry off-the-self products, including its library of 10,000 building blocks and 700,000 diverse drug-like small molecule screening compounds.

About AstraZeneca

AstraZeneca is a major international healthcare business engaged in research, development, manufacturing and marketing of prescription pharmaceuticals and supplier for healthcare services. AstraZeneca is one of the world's leading pharmaceutical companies with healthcare sales of US $29.55 billion and is a leader in gastrointestinal, cardiovascular, neuroscience, respiratory, oncology and infection product sales. AstraZeneca is listed in the Dow Jones Sustainability Index (Global) as well as the FTSE4Good Index. For more information please visit: http://www.astrazeneca.com.

Source: ChemBridge Corporation

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