SEATTLE and WILMINGTON, Del., Sept. 24 /PRNewswire/ -- CompleGen announced today the signing of an agreement with DuPont Crop Protection allowing CompleGen access to a large chemical library in exchange for a series of CompleGen's XenoGene(TM) assays. The chemical library consists of compounds highly selected for drug-like properties. XenoGene(TM) assays are genetically modified yeast requiring a foreign (target) gene to grow, allowing the high throughput screening of compounds to identify those that act specifically on the protein encoded by the foreign gene.
The agreement gives DuPont Crop Protection rights to certain assays and all compounds discovered with the assays in the Agricultural field of use. In return, CompleGen has all rights in the Pharmaceutical field to discoveries that come from this library. Dr. Joe Hedgpeth, CompleGen's CEO and co-founder, states: "We are delighted to extend our relationship with DuPont Crop Protection in this collaboration. Our previous work has been productive for both companies and has helped CompleGen validate its technology. The current agreement is evidence of the creativity of both companies in structuring a mutually beneficial relationship. Access to this compound library provides us with a large library unavailable elsewhere with which to screen our XenoGene(TM) targets. Further, this agreement will enhance the ability of DuPont Crop Protection to apply targeted high throughput screening, normally available only to pharmaceutical discovery, to their discovery programs. CompleGen currently has a backlog of more than 150 XenoGenes(TM) of pharmaceutical interest ready for screening. We believe this high-quality chemical library will allow CompleGen to leverage its novel biology into novel chemistry and allow the company to discover and patent novel drugs at an otherwise unachievable rate, industrialize the pre-clinical drug development process and dramatically reduce the time it takes to bring a drug to market."
"DuPont Crop Protection is enthusiastic about this important milestone in our relationship with CompleGen", said Pat Confalone, Director, Research & Development. "Coupling of our unique compound library with the proven utility of the XenoGene(TM) system may lead to the discovery of key leads which will provide the basis for further innovation in both the pharmaceutical and crop protection industries. This swap of compound libraries for target-based assays is a very thoughtful exchange which affords mutual benefits to both R&D organizations."
CompleGen is a development stage biotechnology company located in Seattle, WA. The company uses its proprietary technology to rapidly generate validated drug leads and take them through pre-clinical development (initially targeting large oncology and infectious disease markets). CompleGen has an issued U.S. patent on a novel technology to construct and utilize genetically modified yeast strains as highly effective screening tools to find drug leads from large compound libraries. Significant applications in the development of novel agrochemicals exist as well. The company has prior collaborations with DuPont, Berlex Biosciences (a subsidiary of Schering A.G.) and other large pharmaceutical companies.
About DuPont Crop Protection
DuPont Crop Protection serves production agriculture with products for the grain and specialty crop sectors as well as forestry/vegetation and professional pest management. It includes global herbicide, fungicide, and insecticide products and services. Employees number 3,600 with operations in 60 countries.
Vice President, Business Development
Joel Hedgpeth, Ph.D.
President and CEO
Manager, Public Affairs
DuPont Crop Protection
CONTACT: Michael Tippie, Vice President, Business Development,+1-206-447-9014, or firstname.lastname@example.org; or Joel Hedgpeth, Ph.D., Presidentand CEO, +1-206-447-8076, or email@example.com, both of CompleGen, Inc.;or Gabrielle King, Manager, Public Affairs, of DuPont Crop Protection,+1-302-999-5393, or firstname.lastname@example.org