BOULDER, Colo., May 9 /PRNewswire/ -- SomaLogic, Inc. announced today that SomaLogic and Otsuka Pharmaceutical Co., Ltd. entered into a collaboration agreement to use SomaLogic's proprietary aptamer technology to discover and develop novel diagnostic products and to design research tools that will enhance Otsuka's pharmaceutical discovery and development efforts. Under the terms of the agreement, SomaLogic will receive committed research funding and will be entitled to receive a royalty on any marketed products developed as a result of the collaboration. Otsuka also received an option to acquire distribution rights in Asia for certain SomaLogic clinical diagnostics products. In addition, SomaLogic received an equity investment from Otsuka. Other financial terms were not disclosed.
SomaLogic has generated novel aptamers that target over 500 human proteins. These aptamers have very high affinity and specificity. As part of this collaboration, Otsuka will have access to this growing resource for target validation, drug screening and other assays to accelerate their development of new therapeutics. In addition, Otsuka will have access to SomaLogic's highly multiplexed proteomic arrays to facilitate the discovery and monitoring of biomarkers in support of Otsuka's clinical programs and therapeutic products.
"We are very pleased to have Otsuka as a collaborator," stated Dr. Larry Gold, CEO of SomaLogic. "Otsuka's broad vision for global healthcare will help us achieve our goal of using aptamer technology to transform medicine. Otsuka believes deeply in the SomaLogic paradigm through which early detection and proper diagnosis of disease leads to both pharmaceutical and nutritional intervention and better health."
Aptamers are single-stranded nucleic acids that form well-defined three-dimensional shapes, allowing them to bind target molecules in a manner that is conceptually similar to antibodies. Aptamers combine the optimal characteristics of small molecules and antibodies, including high specificity and affinity, chemical stability, and the ability to target protein-protein interactions. In contrast to monoclonal antibodies, aptamers are chemically synthesized, rather than biologically expressed, and may offer significant manufacturing advantages.
SomaLogic, Inc. is a privately-held biomarker discovery and clinical proteomics company based in Boulder, Colorado. The company's mission is to use its proprietary aptamer technology to develop aptamers with remarkable affinity and specificity for their molecular targets, and to develop enhanced protein analysis tools and reagents for the life sciences community. SomaLogic is developing and commercializing clinical diagnostic products that will improve the delivery of healthcare by offering timely and accurate diagnostic information to physicians and their patients.
SomaLogic's aptamer expertise is complemented by a robust patent estate comprised of over 220 issued and 230 pending patents covering the identification, composition, and use of diagnostic aptamers. In addition to the company's core aptamer generation technology, SomaLogic possesses deep expertise in the use and development of aptamer arrays for biomarker discovery, life sciences research, and clinical diagnostics.
Further information about SomaLogic can be found at http://www.somalogic.com.
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About Otsuka Pharmaceutical Co., Ltd.
Founded in 1964, Otsuka Pharmaceutical Co., Ltd. is a global healthcare company with the corporate philosophy: 'Otsuka -- people creating new products for better health worldwide.' Otsuka researches, develops, manufactures and markets innovative and original products, with a focus on pharmaceutical products for the treatment of diseases and consumer products for the maintenance of everyday health. Otsuka is committed to being a corporation that creates global value, adhering to the high ethical standards required of a company involved in human health and life, maintaining a dynamic corporate culture, and working in harmony with local communities and the natural environment. The Otsuka Pharmaceutical Group comprises 99 companies and employs approximately 31,000 people in 18 countries and regions worldwide. Otsuka and its consolidated subsidiaries earned US $7.2 billion in annual revenues in fiscal 2006.
Source: SomaLogic, Inc.