BioSeek, Inc. And UCB, Inc. (UCBJF.PK) Establish New Compound Evaluation Collaboration, Expand Previous Agreement
1/7/2009 8:21:42 AM
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--BioSeek, Inc., a pioneer in the application of predictive human biology to drug discovery, announced today that it has entered into a new and expanded agreement with UCB, a global biopharmaceutical company based in Belgium. Under the collaboration, BioSeek will, over the next year, both carry out broad-based profiling of selected UCB new chemical and biological entities, and guide lead optimization of a specific phenotypic hit previously identified by UCB and further characterized in BioMAP screens. According to the terms of the agreement, BioSeek will receive various payments from UCB, including an upfront technology license fee, research funding, and preclinical and clinical milestone payments based on candidate advancement enabled by the BioMAP platform.