CAMBRIDGE, Mass., Aug. 26 /PRNewswire/ -- NeoGenesis Pharmaceuticals, Inc., a privately held biopharmaceutical company focused on applying novel screening and chemistry technologies to discover and develop small molecule drugs, recently announced they have signed a research and discovery collaboration agreement with Achaogen, an emerging biotechnology company based in South San Francisco, California.
Henry Skinner, Ph.D., president and CEO of NeoGenesis Pharmaceuticals, Inc., said, "We are very pleased to be collaborating with Achaogen, the leader in its field, who recognizes the value brought to the drug discovery process by NeoGenesis' technologies and scientific talents and has chosen to partner with us."
Under the terms of this agreement, NeoGenesis will use its unique drug discovery technologies, including its proprietary ALIS (Automated Ligand Identification System) platform, NeoMorph compound libraries, and lead optimization technologies to discover drug candidates against selected targets.
"We are excited to begin work with Neogenesis," said Kevin Judice, CSO of Achaogen. "Their ALIS technology represents a truly breakthrough approach to screening and is completely orthogonal to standard approaches. We expect great things from the collaboration."
Much of NeoGenesis' collaborative research has been directed toward the identification of drug candidates for medically important, but chemically intractable, drug targets, and NeoGenesis has achieved remarkable success in these challenging projects. In addition, the NeoGenesis platform is capable of identifying ligands that modulate a drug target's function through novel binding modes, which has yielded drug candidates with novel structures, mechanisms of action and enhanced selectivity for highly competitive 'fast- follower' targets. The Company anticipates drug candidates from its collaborative efforts to enter into human clinical trials in 2005 and 2006.
About NeoGenesis Pharmaceuticals, Inc.
NeoGenesis Pharmaceuticals, Inc. is a drug discovery company which uses its proprietary affinity-based screening technologies and integrated chemical library and chemistry approaches to discover and develop a portfolio of small molecule drugs, both for itself and for its collaboration partners. The company's widely applicable and unbiased affinity-based technologies, coupled with its proprietary library of millions of diverse drug-like compounds, provide an unmatched efficiency in lead discovery and optimization. NeoGenesis' core technology, the Automated Ligand Identification System (ALIS), is a rapid, affinity-based system for identifying and optimizing novel drug leads that in many cases may not have been identified with traditional screening approaches. Coupled with the company's NeoMorph compound library, consisting of more than 5 million diverse medicinally-relevant small molecules, ALIS enables the identification and optimization of novel and selective drug leads against validated and emerging new targets. Founded in 1997 and headquartered in Cambridge, Massachusetts, NeoGenesis has developed partnerships and collaborative research agreements with many of the world's leading biotechnology and pharmaceutical companies, including: AstraZeneca, Amgen, Aventis, Biogen, Celltech, Japan Tobacco, Merck, Mitsubishi Pharma, Pfizer, Schering-Plough and Tularik.
Note: NeoGenesis, ALIS and NeoMorph are trademarks of NeoGenesis Pharmaceuticals, Inc. All other trademarks are the property of their respective owners.
NeoGenesis Pharmaceuticals, Inc.
CONTACT: Henry B. Skinner, Ph.D., President and CEO, +1-617-588-5117, orHuw Nash, Ph.D., Vice President, External Collaborations, +1-617-588-5119,both of NeoGenesis Pharmaceuticals, Inc.; or Agency Contact: Bill Monigle,IR/PR Counsel for NeoGenesis, +1-603-424-1184