Monday October 29, 8:32 am Eastern Time
Press Release
SOURCE: 3-Dimensional Pharmaceuticals, Inc.
Athersys and 3-Dimensional Pharmaceuticals Form
Drug Discovery and Development Collaboration
CLEVELAND, and YARDLEY, Pa., Oct. 29 /PRNewswire/ -- Athersys, Inc. and
3-Dimensional Pharmaceuticals, Inc. (Nasdaq: DDDP - news) today announced a
collaboration to discover, develop and commercialize novel, small molecule pharmaceuticals
by screening against therapeutically relevant drug targets derived from the G-Protein Coupled
Receptor (GPCR) family of proteins. This collaboration combines Athersys' functional
genomics expertise with 3-Dimensional Pharmaceutical's (3DP) small molecule drug
development capabilities for rapid drug identification and optimization of drug candidates.
Under the terms of the agreement, the companies will jointly select a number of biologically
validated targets having commercial or therapeutic value to be included in the collaboration.
Certain small molecule drug candidates identified from the collaboration will be jointly
developed, with the companies sharing future development costs and commercialization
rights, while others will be retained exclusively by each of the parties for future development
and commercialization.
Athersys will employ its proprietary RAGE (Random Activation of Gene Expression(TM))
technology platform to provide the collaboration access to cell lines that express the selected
drug targets. Athersys will use the cell lines to develop screens for drug discovery and screen
compounds using 3DP's DiscoverWorks® platform. 3DP will employ its DiscoverWorks®
platform to identify and optimize lead compounds active against the validated targets. 3DP's
technologies can be applied to virtually any disease target, and are used to produce small
molecule compounds suitable for drug development in a more timely and cost-effective
manner and with a higher probability of success than conventional methods.
``This collaboration combines two powerful drug discovery and development technologies,
making it possible for Athersys and 3DP to rapidly discover and develop small molecule
compounds against the biologically validated GPCR targets that Athersys and 3DP select for
development,'' commented Gil Van Bokkelen, Ph.D., Chairman, President and Chief
Executive Officer of Athersys. ``This marks another important milestone for Athersys as we
continue to expand our drug development capabilities by establishing strategic partnerships
with companies that have developed highly complementary technology platforms.''
``We see this collaboration as a highly synergistic combination of strong biology and chemistry capabilities that will quickly
achieve positive results,'' said David C. U'Prichard, Ph.D., Chief Executive Officer of 3DP. ``Access to proprietary, validated
targets for drug discovery and development is a key objective of 3DP and we are very pleased to enter into this collaboration
with Athersys.''
3DP (http://www.3dp.com) is an integrated bio-pharmaceuticals company dedicated to revolutionizing small molecule drug
discovery and development. 3DP's proprietary platform, DiscoverWorks®, can be applied to virtually any potential drug
target. It produces drug candidates suitable for faster development, with fewer resources and a higher probability of success
than using conventional drug discovery methods. 3DP is developing its own drug pipeline and collaborates with other
pharmaceutical companies in discovery and development.
Athersys is a functional genomics and biopharmaceutical company engaged in the development, application and
commercialization of novel gene expression tools and therapeutic products. The company's research and development
programs are focused on its two proprietary platform technologies: RAGE (Random Activation of Gene Expression(TM)) and
SMC(TM) (Synthetic Microchromosome(TM)) vector system. RAGE is a novel gene expression system that provides the
unique ability to produce protein from virtually every gene in the human genome, without requiring the cloning of individual
genes or use of cDNA libraries. RAGE greatly accelerates the identification and validation of novel drug targets by enabling the
direct correlation of a disease process or characteristic with expression of a specific protein. As a result, RAGE has powerful
applications in functional genomics; the generation of validated drug targets; discovery of novel antibody drug targets; structural
proteomics and rational drug design; and the production of protein therapeutics. Athersys is developing novel therapeutic
products based on its proprietary technologies, through partnerships and internal research and development programs. This
press release and further information on Athersys, Inc. can be found on the World Wide Web at: www.athersys.com.
For Athersys: Statements herein that are not descriptions of historical facts are forward-looking and subject to risk and
uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors, including risks
relating to the early stage of products under development; uncertainties related to patent protection; uncertainties relating to
clinical trials; dependence on third parties, including strategic partners, collaborators and key personnel; and risks relating to the
development and commercialization, if any, of Athersys' proposed products (such as effectiveness of our products, marketing,
manufacturing, safety, regulatory, patent or product liability, supply, competition and other risks).
For 3DP: Statements in this press release that are not strictly historical are ``forward-looking'' statements which involve a high
degree of risk and uncertainty. Such statements are only predictions, and the actual events of results may differ materially from
those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not
limited to, risks associated with our new and uncertain technologies, clinical trials and product development, the long and
arduous process of obtaining regulatory approval, our dependence on existing strategic alliances and new collaborations, our
dependence on patents and proprietary rights, our ability to protect and enforce our patents and proprietary rights, the
development and availability of competitive products or technologies, our ability to attract and retain talented employees and
our ability to manage our expansion as a company increasingly focused on internal product research and development.
SOURCE: 3-Dimensional Pharmaceuticals, Inc. |
