CAMBRIDGE, Mass.--(BUSINESS WIRE)--Aug. 15, 2001--NeoGenesis Drug Discovery and Mitsubishi-Tokyo Pharmaceuticals today announced a collaboration agreement to discover small-molecule drug candidates for a high value therapeutic area. This alliance will draw on Mitsubishi-Tokyo Pharmaceutical's experience as a global pharmaceutical company with the chemical genomics-based drug discovery technologies of NeoGenesis, which rapidly translate proteins into small molecule drug leads.
``Our agreement with NeoGenesis demonstrates our desire to contribute to society through the provision of valuable new medicines,'' said Akihiro Tobe, Ph.D., board director, president of Research and Development Division, Mitsubishi-Tokyo Pharmaceuticals. ``Based on their previous record of success, we are confident that in a short period of time, NeoGenesis will be able to provide us with effective drug leads to the target we have supplied them with.''
``We are excited to be entering into this collaboration with Mitsubishi-Tokyo Pharmaceuticals,'' said Satish Jindal, Ph.D., president and chief scientific officer of NeoGenesis. ``By using our unique screening technology, we will be able to yield high-quality leads to the target supplied to us by Mitsubishi-Tokyo Pharmaceuticals. This partnership further positions NeoGenesis as the industry leader in drug discovery technologies.''
Under terms of the agreement, Mitsubishi-Tokyo Pharmaceuticals will pay NeoGenesis for discovery as well as traditional milestones and royalties on products resulting from the collaboration. |
