PCOP with a small win in its old business of drug discovery outsourcing:
>>PRINCETON, N.J. and TOKYO, Dec. 18 /PRNewswire/ -- Pharmacopeia, Inc. (Nasdaq: PCOP - news) and Locomogene, Inc. today announced that they have entered into a research collaboration focused on the area of osteoarthritis/rheumatoid arthritis. Locomogene is an emerging biotechnology company based in Tokyo specializing in locomotive organs diseases.
Under the terms of this agreement, Pharmacopeia will provide assay development expertise, a proprietary, multimillion compound sample collection, and ultra high-throughput screening technology to identify lead compounds for a Locomogene target. Pharmacopeia will receive funding for providing these research activities and will be entitled to receive additional payments upon the successful achievement of milestones and royalties upon the commercialization of any drugs emanating from this relationship.
``Locomogene is an exciting, young company with interesting and important biological targets,'' said Joseph A. Mollica, Ph.D., Chairman, President and CEO of Pharmacopeia. ``We're excited to leverage our drug discovery expertise to collaborate with Locomogene. We look forward to identifying lead compounds in this important therapeutic area and look forward to a long and successful relationship with Locomogene.''
``We are confident that this collaboration will enable Locomogene to generate a substantial pipeline for osteoarthritis/rheumatoid arthritis,'' said Takeo Matsumoto, PhD, CEO of Locomogene.
Locomogene (www.locomogene.com) is an emerging biotechnology company committed to the discovery and development of novel therapeutic products for the treatment of age-related refractory diseases occurring in locomotive organs such as rheumatoid arthritis, osteoarthritis, osteoporosis, diabetic neuropathy and others.<<
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Cheers, Tuck |
