RESEARCH TRIANGLE PARK, N.C., Nov. 3 /PRNewswire/ -- Norak Biosciences, Inc. announced today the signing of a second license agreement with AstraZeneca to continue use of Transfluor(R) Technology in its G protein- coupled receptor (GPCR) drug discovery program. AstraZeneca will use Transfluor to advance novel lead compounds discovered from a primary high throughput screen utilizing Transfluor under an agreement announced in June 2002. The terms of the 2002 agreement called for Norak to develop a cell line for an AstraZeneca GPCR target of interest that was then screened by AstraZeneca. Financial terms were not disclosed.
"AstraZeneca having discovered novel chemistry is a major milestone for Transfluor," commented Dr. Roger D. Blevins, president and CEO of Norak. "Of course, Norak has likewise discovered novel lead compounds specific to our desensitization targets."
Norak's Transfluor(R) technology is a patented, universal GPCR drug discovery technology designed to be the most direct and accurate method for screening potential drug candidates against GPCR targets, whether known or orphan. Transfluor was licensed in 1999 by Norak from technology developed at Duke University Medical School and represents the combined research into GPCR signaling pathways over several decades by Norak's scientific founders, Drs. Marc Caron, Robert Lefkowitz, and Larry Barak.
AstraZeneca is a major international healthcare business engaged in the research, development, manufacture and marketing of prescription pharmaceuticals and the supply of healthcare services. It is one of the world's leading pharmaceutical companies with healthcare sales of over $18.8 billion and leading positions in sales of gastrointestinal, oncology, cardiovascular, neuroscience and respiratory products. AstraZeneca is listed in the Dow Jones Sustainability Index (Global and European) as well as the FTSE4Good Index. Worldwide, AstraZeneca has six major research and development sites, four discovery facilities and a clinical research site, in total, employing more than 11,500 R&D staff members in Canada, France, India, Japan, Sweden, United Kingdom and the United States.
About Norak Biosciences, Inc.
Norak Biosciences, Inc., headquartered in Research Triangle Park, NC, is a private biotechnology company. Norak is utilizing its proprietary Transfluor technology to become a world leader in the discovery and development of drugs that regulate G protein- coupled receptors.
For more information about Norak Biosciences, Inc., please visit the company's website at http://www.norakbio.com/ or contact:
Terry E. Willard Executive Vice President Norak Biosciences, Inc. 7030 Kit Creek Road, Morrisville, NC, 27560 Phone: 919-248-8000 ext. 8804 Fax: 919-248-8033 email@example.com
Norak Biosciences, Inc.
CONTACT: Terry E. Willard, Executive Vice President of NorakBiosciences, Inc., +1-919-248-8000, ext. 8804, or fax, +1-919-248-8033, firstname.lastname@example.org