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Eisai Inc. (ESALF.PK) and FORMA Therapeutics Enter into Broad Drug Discovery Collaboration; Forma to Receive $20 Million Over Three Years Also Eligible for Milestone Payments
11/17/2010 6:51:56 AM
WOODCLIFF LAKE, N.J. & CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Eisai Inc., the U.S. pharmaceutical subsidiary of Tokyo-based Eisai Co., Ltd., and FORMA Therapeutics announced today that the two companies have signed a strategic drug discovery collaboration. Under the terms of the agreement, Eisai will have non-exclusive access to FORMA’s Diversity Oriented Synthesis (DOS) chemistry-generated compound library and cell-based screening platforms to support the discovery of novel compounds for Eisai’s pipeline. In addition, Eisai has an option for technology transfer of FORMA’s cell-based screening platform. FORMA will receive upfront payments and committed funding of $20 million over three years and is eligible to receive additional milestones plus royalties on future products that Eisai may commercialize as a result of this collaboration.
“FORMA’s unique drug discovery capabilities will enable Eisai to access diversified chemistry and drug discovery technologies to identify novel drug candidates for otherwise difficult targets,” said Kentaro Yoshimatsu, Chief Scientific Officer, Eisai Product Creation Systems at Eisai Co., Ltd., the parent company of Eisai Inc. “As part of our product creation strategy to increase access to external innovation, we believe this collaboration with FORMA will allow for synergistic capabilities that lead to the creation of breakthrough treatments to satisfy unmet medical needs.”
“We are delighted to be collaborating broadly with Eisai to support its drug development efforts. This collaboration provides further validation of FORMA’s integrated drug discovery platform and demonstrates our capabilities for unlocking new druggable targets for both our internal product pipeline and for our partners,” said Steven Tregay, CEO of FORMA. “This agreement provides significant, additional financial flexibility to pursue our internal drug discovery and development programs in oncology.”
About FORMA Therapeutics
FORMA Therapeutics unlocks intractable targets to create transformative small molecule therapies in oncology. FORMA is creating a pipeline of products by applying its proprietary cell-based screening, structure-guided drug discovery and Diversity Oriented Synthesis (DOS) technologies. FORMA also uses its discovery technology to create novel compounds for its partners in many therapeutic areas. FORMA is headquartered in Cambridge, MA with additional research operations in Connecticut and Singapore. www.formatherapeutics.com
About FORMA’s Integrated Drug Discovery Platform
FORMA is uniquely positioned through its combination of technological capabilities and oncology expertise to access novel targets and to develop a new generation of breakthrough oncology drugs. Some of the key features of FORMA’s discovery capabilities include:
* Versatile cell-based screening platform which allows the screening of discrete targets in cells and quantitative genome/proteome-wide profiling and target identification.
* Accessing new chemical space through structure guided drug discovery (SGDD) approaches leveraging proprietary computational and structural biology combined with an integrated chemistry platform which incorporates Diversity Oriented Synthesis (DOS).
* DOS combines the high stereochemical and structural diversity found in natural products with traditional combinatorial chemistry techniques. This approach has been proven to work for challenging targets and will allow the rapid optimization of lead therapeutic candidates.
About Eisai Inc.
Eisai Inc. was established in 1995 and is ranked among the top-20 U.S. pharmaceutical companies (based on retail sales). The company began marketing its first product in the United States in 1997 and has rapidly grown to become a fully integrated pharmaceutical business with fiscal year 2009 (year ended March 31, 2010) sales of approximately $3.9 billion. Eisai’s areas of commercial focus include neurology, gastrointestinal disorders and oncology/critical care. The company serves as the U.S. pharmaceutical operation of Eisai Co., Ltd.
Eisai has a global product creation organization that includes U.S.-based R&D facilities in Maryland, Massachusetts, New Jersey, North Carolina and Pennsylvania as well as manufacturing facilities in Maryland and North Carolina. The company’s areas of R&D focus include neuroscience; oncology; vascular, inflammatory and immunological reaction; and antibody-based programs. For more information about Eisai, please visit www.eisai.com.
About Eisai Co., Ltd.
Eisai Co., Ltd. is a research-based human health care (hhc) company that discovers, develops and markets products throughout the world. Through a global network of research facilities, manufacturing sites and marketing subsidiaries, Eisai actively participates in all aspects of the worldwide healthcare system. Eisai employs approximately 11,000 employees worldwide.