TransForm Pharmaceuticals, Inc. Announces Agreement With Eli Lilly and Company (LLY); Collaboration To Improve Preclinical Formulation Screening
10/19/2005 5:11:27 PM
TransForm Pharmaceuticals, Inc. (TransForm) today announced that it has entered into a new agreement with Eli Lilly and Company (NYSE:LLY) to apply TransForm's capabilities to develop a robust method of identifying optimal formulations for preclinical drug candidates. Under the collaboration, TransForm's scientists will conduct over 10,000 formulation experiments to develop an extensive data set of quantitative measurements that will identify the optimal formulations for preclinical candidates.
Using proprietary informatics capabilities, TransForm will develop a novel suite of tools that is intended to allow Lilly to improve the speed and success rate of its preclinical compounds by moving them into in vivo toxicology studies earlier and with more reliable formulations. TransForm will retain rights to use the new tools to improve its own proprietary pipeline of product candidates. Financial terms of the agreement were not disclosed and the work will start immediately.