SAN DIEGO, CA and MOSCOW--(Marketwire - December 20, 2011) - ChemDiv, Inc. (ChemDiv) announced today that it has entered into a multi-project research and collaboration agreement with Janssen Pharmaceutica NV (Janssen) and Tibotec Pharmaceuticals (Tibotec). Under the arrangement, ChemDiv will apply its integrated drug discovery expertise and technologies to identify novel small molecules against targets to be jointly agreed upon. For each research project, Janssen or Tibotec will fund certain R&D costs of ChemDiv. ChemDiv will be eligible for certain success milestones.
ChemDiv will conduct much of the research under this arrangement through its Moscow subsidiary, ChemDiv Research Institute (CDRI), anchored at the ChemRar High Tech Centre. The research will also be supported by ChemDiv's laboratories in San Diego.
Nikolay Savchuk, Chairman of ChemDiv Research Institute, comments: "We are focused on pioneering approaches to innovative R&D partnering at ChemDiv. Collaborative risk sharing under this strategic arrangement is aimed at fostering R&D productivity and broadening emerging market access. We are delighted to work with Janssen under a flexible entrepreneurial model more common to biotech ventures."
About ChemDiv Research Institute:
ChemDiv and its ChemDiv Research Institute (CDRI) subsidiary comprise a fully integrated discovery and development CRO based in San Diego and at the ChemRar High Tech Center in Moscow. CDRI collaborates with pharmaceutical and biotech partners by enabling them to accelerate R&D programs to higher value clinical inflection points. ChemDiv and its CDRI subsidiary offer integrated Discovery outSource™ solutions covering the complete range of disciplines, in multiple therapeutic areas (CNS, oncology, inflammation, metabolic, infectious diseases, and others), from discovery research and preclinical development, through accelerated Proof of Concept and to market registration.
Visit www.chemdiv.com for more information.