WOBURN and Weston, Mass., May 6, 2008 – CreaGen Biosciences, Inc. and ProXyChem, LLC announced today that the two companies have entered into an agreement to combine their expertise in offering comprehensive Structure-Based Drug Design (SBDD) and lead optimization services.
Drug discovery research is a complex, time-consuming activity that interweaves multiple scientific disciplines on the path to creating new treatments for human diseases. While once virtually the exclusive province of large pharmaceutical companies, large numbers of small pharmaceutical and biopharmaceutical start-ups have entered the drug discovery field. Medicinal Chemistry and SBDD operations require specialized skills and expensive infrastructure, leading many small companies to outsource some or all of these operations. CreaGen and ProXyChem have teamed up to provide their complementary capabilities to client companies as a seamlessly integrated Medicinal Chemistry and SBDD service.
“We look forward to a productive working relationship with CreaGen in offering our combined experience and expertise to client companies,” said ProXyChem Co-Founder, Hal Meyers, Ph.D. “There are quite a few vendors providing Structure Based Drug Design or Medicinal Chemistry services. This collaboration will give pharmaceutical R&D companies the opportunity to harness the power of both with a single external relationship to efficiently build the value of their portfolio.”
“CreaGen is delighted to be a part of the solution for companies seeking to leverage their drug discovery knowledge with Medicinal Chemistry and Drug Design outsourcing services,” said Raj Rajur, President and CEO of CreaGen Biosciences. We have built our reputation on providing high quality Synthetic Chemistry and Medicinal Chemistry results for our customers. We have the ability to function as a virtual chemistry group for out clients or as an extension of an existing chemistry group, and working with ProXyChem will enhance the value of working with our team to well beyond what is possible with typical research service organizations.” ProXyChem, LLC, based in Weston, MA, is a provider of drug discovery solutions to the pharmaceutical and biotech communities, with an emphasis on value, customer service, and rapid and timely delivery of work products. Contracting with outstanding national and international service providers, ProXyChem’s service offerings include: Protein Cloning, Expression and Purification; Protein Crystallography; Computational Chemistry and Visualization; Lead Generation and Optimization.
ProXyChem aspires to be an extension of its clients’ drug discovery team, a one-stop-shop for all gene-to-lead needs. CreaGen Biosciences, Inc has differentiated itself by delivering cost-effective, high quality services in medicinal chemistry, custom chemical synthesis, chemical library synthesis and analytical chemistry. Since 2003, CreaGen has established a record of excellence with customers ranging from multinational pharmaceutical companies to early-stage biotech companies.
CreaGen’s Corporate Office is located near Boston, one of the most important centers for life sciences research, home to over 500 biotech and pharmaceutical companies along with world-renowned academic research institutes. With laboratory facilities in the Woburn and in Bangalore (India), the Company is well-suited to support chemistry and pharmaceutical research activities in industry and academia. Both locations provide ready access to robust transportation and communication infrastructures and to tremendous pools of talented scientists, enabling CreaGen to provide unparalleled service to its customers.
In addition to the integrated SBDD and Lead Optimization expertise that will become available as a result of this collaboration, client companies will have the opportunity to enlist knowledgeable Project Managers and to benefit from the extensive network of drug discovery service providers that both companies have developed in the course of their respective business relationships, with high quality service offerings ranging from in vitro ADMET screening to toxicity screening and to in vivo efficacy models. Specific terms of the Agreement have not been disclosed.
Company Contacts: CreaGen Biosciences, Inc. ProXyChem, LLC Dr. Raj (SB) Rajur Dr. Harold V. Meyers 781-938-1122 617-395-4266 rrajur@creagenbio.com hal.meyers@proxychem.com www.creagenbio.com www.proxychem.com
