PsychoGenics Inc. Achieves Milestone in its Discovery Collaboration with Roche (RHHBY)
11/16/2011 10:17:21 AM
TARRYTOWN, N.Y.--(BUSINESS WIRE)--PsychoGenics Inc. today announced the achievement of a milestone in its drug discovery and development collaboration with Roche.
In May 2008, PsychoGenics and Roche entered into a drug discovery and development agreement to combine their complementary strengths and expertise to identify a new generation of treatments for neuropsychiatric disorders. PsychoGenics evaluated a library of Roche compounds, using its proprietary in vivo drug discovery technologies, leading to the discovery of a new drug candidate with the potential for a novel mode of action. Roche has decided to exercise its option to develop this drug candidate, thereby triggering a milestone payment to PsychoGenics.
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