WALTHAM, Mass.--(BUSINESS WIRE)--April 10, 2006--PRAECIS PHARMACEUTICALS INCORPORATED (NASDAQ: PRCS - News) today announced that it has entered into a two year pilot study and option agreement with GlaxoSmithKline, a leading global pharmaceutical company (GSK), through its recently established Center of Excellence for External Drug Discovery (CEEDD). The goal of this pilot study is to apply PRAECIS’ DirectSelect(TM) technology to identify small molecule lead drug candidates against a diverse set of four targets selected by GSK. The pilot study is consistent with the mission of GSK’s CEEDD to leverage the potential of innovative drug discovery technologies to identify novel therapeutic candidates for GSK’s global research and development organization.
