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New Fragment-based Drug Discovery Platform Announced Between IOTA Pharmaceuticals and Beactica AB


4/23/2008 8:17:14 AM

UPPSALA, Sweden and CAMBRIDGE, England, April 23 /PRNewswire/ -- Two leading companies in the area of fragment-based drug discovery (FBDD) today announced a new commercial alliance. IOTA Pharmaceuticals Ltd, based in Cambridge, UK, and Beactica AB, based in Uppsala, Sweden, will join forces to deploy a proprietary FBDD-based lead discovery and optimization platform.

The IOTA-Beactica platform couples comprehensive, site-directed FBDD libraries to state-of-the-art fragment and lead screening using surface plasmon resonance (SPR) biosensor technology, enabling the rapid progression of new discovery programs from concept to optimized lead.

Based on rapid determination of ligand-target interaction information, and using a unique combination of fragment-based drug screening and medicinal chemistry-led design approaches, applicable to a wide range of new targets, the platform will initially focus on the development of new classes of kinase inhibitors. The reagents, tools and technologies developed by the two companies will be commercialized through drug discovery partnerships with pharmaceutical companies active in the kinase area.

Dr Per Kallblad, CEO of Beactica, said, "We are delighted to work with IOTA to expand our existing drug discovery platform. The combination of IOTA's proprietary FBDD engine with Beactica's SPR screening technology will be an excellent way to pursue the discovery and optimization of new kinase inhibitors."

Dr David Bailey, heading IOTA, commented, "Fragment-based drug discovery is a fast, efficient and productive route to NCE discovery. Our combined technologies offer a comprehensive lead discovery solution to our pharma partners."

About IOTA

IOTA Pharmaceuticals provides FBDD-based molecular design, compound screening and lead discovery services to its partners in the pharmaceutical industry. For more information about IOTA, please visit http://www.iotapharma.com

About Beactica

Beactica is a specialist drug discovery company, utilizing its proprietary methodologies to evaluate the biophysical interaction of molecules in order to generate novel therapeutics. For more information about Beactica, please visit http://www.beactica.com

CONTACT: Dr David Bailey, CEO of IOTA, david.bailey@iotapharma.com; or Dr
Per Kallblad, CEO of Beactica, per.kallblad@beactica.com

Web site: http://www.iotapharma.com/
http://www.beactica.com/



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