For the AXPH thread:
RESEARCH TRIANGLE PARK, N.C., and SAN FRANCISCO, Oct. 19 /PRNewswire/ --
ICAgen, Inc. and Axys Pharmaceuticals today announced that ICAgen has acquired all of Axys' ion channel technology, including drug discovery targets and intellectual property. Financial terms were not disclosed.
"The aggressive acquisition and development of new drug targets and technologies such as this portfolio is a key aspect of ICAgen's commitment to maintaining our status as the leading ion channel drug discovery company," said P. Kay Wagoner, Ph.D., President and CEO of ICAgen. "By acquiring the entirety of Axys' ion channel portfolio, we significantly broaden our technology platform. The targets covered under this acquisition also enable us to pursue drug discovery programs in additional therapeutic sectors. This acquisition enhances the breadth and pace of our drug discovery efforts, both for programs we have in place with our collaborators as well as for our own internal development efforts."
"ICAgen was our first choice to license our ion channel technology
portfolio," said John Wulf, Vice President of Business Development. "Axys is concentrating its non-partnered resources on the discovery and development of products for the treatment of cancer. We sought a licensee to further develop our ion-channel technology as it does not strategically fit with our focus in oncology. Through its focus and leadership in ion channel drug discovery, ICAgen is in the best position to capitalize on our ion channel assets."
"ICAgen's diverse platform of ion channel drug discovery technologies comprises targets, screens, and chemistry that, in conjunction with our strengths in ion channel biology and chemistry, provide us with a distinct advantage in rapidly assessing and developing new therapeutic opportunities," added Douglas Krafte, Ph.D., ICAgen's Director of Biology. "By rapidly determining the scientific and clinical viability of new programs, we can accelerate progress from concept through drug discovery and pre-clinical trials."
ICAgen, Inc., a privately-held company based in Research Triangle Park, North Carolina, is a leader in drug discovery focused exclusively on ion channel modulation. ICAgen maintains proprietary biological targets, screening methods and gene family chemical libraries, and has ongoing discovery programs in cardiovascular, central nervous system, gastrointestinal, urinary and immunological disorders. The Company has partnerships with Bristol-Myers Squibb, Abbott Laboratories, and Incyte Pharmaceuticals. Additionally, ICAgen has ongoing development programs for its own clinical candidates. For more information please visit the ICAgen web site at: icagen.com. |
