SAN DIEGO, Oct. 31 /PRNewswire-FirstCall/ -- Discovery Partners International, Inc. announced today receipt of milestone payments from Allergan, Inc. for identification of lead compounds from an on-going multi-target drug discovery collaboration. Actual figures of the milestone payments and the therapeutic focus of the collaboration were not disclosed.
“We are delighted to have delivered significant value to Allergan”, stated Riccardo Pigliucci, Chairman and CEO of Discovery Partners International. “Our collaborative relationship with Allergan is a long-standing one and includes a wide range of R&D activities. Our integrated drug discovery capabilities provide an excellent fit for Allergan and we look forward to continued success in our collaboration going forward.”
About Discovery Partners International, Inc.
Discovery Partners International, Inc. (DPI) is a technology-driven drug discovery company, offering collaborations and services complementing the internal capabilities of pharmaceutical and biopharmaceutical companies. DPI has the platform, the process, and the people, to carry out drug discovery from target to optimized leads. DPI has actively contributed to dozens of drug discovery collaborations. Discovery Partners International is headquartered in San Diego, California and has operations in the United States and Europe. For more information on Discovery Partners International, Inc., please visit the company’s web site at http://www.discoverypartners.com.
Statements in this press release that are not strictly historical are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a high degree of risk and uncertainty. These include statements related to the ability to identify potential lead compounds for Allergan, and in general, DPI’s ability to successfully apply its drug discovery platform in collaborating with and supporting its partners in drug development activities. Discovery Partners’ actual results may differ materially from those projected in the forward looking statements due to risks and uncertainties that exist in their operations, collaborative relationships (including the collaboration with Allergan), development efforts and business environment, including technological risks, risks that Discovery Partners will not achieve milestone events in its collaborations on a timely basis or at all, risks that Discovery Partners will not be able to maintain its existing collaborations or enter into and maintain new collaborations and other risks and uncertainties more fully described in Discovery Partners’ annual report on Form 10-K for the year ended December 31, 2004 as filed with the Securities and Exchange Commission and Discovery Partners’ other SEC reports.
Discovery Partners International, Inc.
CONTACT: Riccardo Pigliucci, Chief Executive Officer, or Craig Kussman,Chief Financial Officer, of Discovery Partners International,+1-858-228-4113, ir@discoverypartners.com
Web site: http://www.discoverypartners.com/
