San Diego - February 26, 2009 - ChemDiv, Inc. announced today that it has earned the successful milestone in its Lead Discovery collaboration with Nerviano Medical Sciences (NMS). In October 2007, ChemDiv and NMS expanded their partnership to discover and develop potential anticancer agents.
Under the terms of the collaboration, ChemDiv will receive a milestone payment for successful delivery of a lead molecule to NMS, in addition to research fees earned for discovery services.
Nikolay Savchuk, President and CEO of ChemDiv, Inc. commented: “We are very pleased to be able to deliver high value to Nerviano's oncology program applying our Discovery outSource SM platforms. ChemDiv's rational approach to small molecule discovery and strengths in medicinal chemistry and pre-clinical biology will help to secure further success in this collaboration. Once again, ChemDiv’s leadership in discovery and development services has been validated through our work with Nerviano, one of Europe’s largest oncology-focused developers.”
ChemDiv Inc. (Chemical Diversity) is a global chemistry-driven contract research organization accelerating external discovery and development of novel therapies through comprehensive Discovery outSourceTM services, including discovery biology, medicinal and synthetic chemistry, pre-clinical and early clinical development.