Trega Biosciences and Boehringer Ingelheim Sign Agreement for Custom Synthesis
SAN DIEGO, Jan. 11 /PRNewswire/ -- Trega Biosciences, Inc. (Nasdaq: TRGA), today announced that it has entered into an agreement with Boehringer Ingelheim International GmbH for the custom synthesis of exclusive solution phase compound libraries. The initial phase of the collaboration is expected to last approximately six months. Financial terms were not disclosed.
"This is Trega's first collaboration for custom synthesis and complements our existing Chem.Folio(TM) business," said Michael G. Grey, president and CEO of Trega. "The goal of this study is to provide BI with directed, solution phase synthesized compounds optimized to meet their needs. Trega's expertise in medicinal chemistry, library synthesis, and computational chemistry provides a strong scientific and technical base to meet increasing market demand for library synthesis. Contract custom synthesis will also establish additional sources of revenue for the company. We are excited to have BI recognize our capabilities and partner with Trega to build libraries for critical drug discovery programs."
"This agreement is a basis for Boehringer Ingelheim to collaborate with a competent partner in the field of library synthesis," said Prof. Wetzel, Head of Corporate Division Research & Development at Boehringer Ingelheim. "The libraries provided by Trega will enlarge chemical diversity and increase chances of both lead structure finding and optimization."
The Boehringer Ingelheim group of companies, with headquarters in Ingelheim (Germany) is one of the 20 leading pharmaceutical corporations in the world. It reported revenues exceeding DEM 8.7 billion in 1998. The corporation has more than 140 affiliated companies and it conducts business on every continent. Its product range is focused on human pharmaceuticals - hospital, prescription and self-medication - as well as animal health. Substantial research and development, production, and distribution facilities are located around the globe. In 1998 Boehringer Ingelheim spent DEM 1.6 billion on R&D, equivalent to 18% of total sales.
For more information on Boehringer Ingelheim please see also the company's Internet webpage www.boehringer-ingelheim.com.
Trega Biosciences is an information-driven technology company focused on accelerating the process of drug discovery from target identification to qualification of clinical candidates by using small molecule combinatorial chemistry, high throughput screening and predictive bioinformatics to rapidly create novel drug candidates having greater chances of clinical success. In combination with its wholly owned subsidiary, NaviCyte, Trega offers integrated products and services spanning the drug discovery process -- beginning with synthesis of novel compounds to delivering uniquely qualified drug leads -- to the pharmaceutical and biopharmaceutical industries. Trega also uses its drug discovery technologies in internal development programs, which are focused on discovering small molecules acting on melanocortin receptors for the treatment of inflammatory and metabolic diseases.
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including whether this collaboration will be successful, any additional collaborations or alliances will be agreed to, formed or expanded, whether regulatory approvals can be obtained for products discovered and developed, if any, the impact of competitive products and pricing, whether any other corporate collaborations or alliances will be successful, and other risks detailed from time to time in Trega's Securities and Exchange Commission filings. These forward-looking statements represent Trega's judgment as of the date of this release. Actual results may differ materially from those projected. Trega disclaims, however, any intent or obligation to update these forward-looking statements.
For copies of press releases and additional information about the Company, please consult Trega's homepage on the World Wide Web at trega.com. or by PR Newswire's fax-on-demand service at 1-800-758-5804, extension 374050.
SOURCE Trega Biosciences, Inc.
CO: Trega Biosciences, Inc.; Boehringer Ingelheim International GmbH
ST: California, Germany
IN: BIO MTC
SU: JVN
01/11/2000 08:00 EST prnewswire.com |
