Trega Biosciences and Boehringer Ingelheim Agree to Second Custom Synthesis Deal
SAN DIEGO, May 11 /PRNewswire/ -- Trega Biosciences, Inc. (Nasdaq: TRGA), today announced that it has expanded its relationship with Boehringer Ingelheim International GmbH by entering into a second agreement for the custom synthesis of exclusive compound libraries. The terms of the collaboration include the custom synthesis of directed libraries by Trega, using solution phase methods, which are to be created to meet the specifications of Boehringer Ingelheim and delivered to them with the libraries' associated information. Financial terms were not disclosed.
"We are pleased to be expanding our relationship with Boehringer Ingelheim," said Michael G. Grey, president and CEO of Trega. "We believe that Boehringer Ingelheim's recognition of Trega's expertise and performance in creating and optimizing compounds using solution phase methods is a great validation of our abilities."
"Our previous experience with Trega has shown that Trega is highly experienced in solution phase combinatorial chemistry. The extension of the collaboration will allow Boehringer Ingelheim to expand our compound collection by additional targeted libraries," said Prof. Bernd Wetzel, Head of Corporate Division Research and Development at Boehringer Ingelheim.
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 of almost DEM 10 billion in 1999. The corporation has some 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 1999 Boehringer Ingelheim spent DEM 1.6 billion on R&D, equivalent to 16% 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 company focused on accelerating drug discovery from disease targets to clinical candidates through its iDiscovery(TM) technologies. These technologies, comprised of information-rich small molecule combinatorial chemistry and in vitro assays coupled with predictive models and proprietary databases, are designed to rapidly create novel drug candidates having greater chances of clinical success. Trega's iDiscovery(TM) technologies span the drug discovery process, beginning with the creation of novel compounds to the delivery of uniquely qualified drug leads to the pharmaceutical and life science industries.
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, 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 agreed to, expanded or 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
ST: California
IN: MTC BIO
SU:
05/11/2000 08:01 EDT prnewswire.com |
