Genaissance Pharmaceuticals and Biogen Sign Pharmacogenomics Collaboration For Research, Development and Marketing
NEW HAVEN, Conn., Feb. 1 /PRNewswire-FirstCall/ -- Genaissance Pharmaceuticals, Inc. (Nasdaq: GNSC - news) today announced that it has entered into an agreement with Biogen, Inc. (Nasdaq: BGEN - news) in which the companies will apply Genaissance HAP(TM) Technology to drugs currently in development and to drug targets under investigation at Biogen, one of the world's premier biopharmaceutical companies. The goal of the collaboration is to utilize pharmacogenomics for research applications as well as to create prognostic tests for use in drug marketing. The pairing of a pharmacogenomics test and a drug represents a new marketing paradigm that uses gene variation information to help ensure successful treatment, and increase physician and patient satisfaction.
Under the terms of the agreement, Genaissance will receive an upfront cash payment, research funding and milestone payments based upon predetermined goals. Genaissance will also reserve capacity in its HAP(TM) Typing facility to process Biogen's clinical trial samples. In addition, Genaissance will be eligible to receive downstream success-based payments.
``Biogen is very pleased to be working with Genaissance, a company at the forefront of applying gene variation information to drug development,'' said Michael Gilman, Ph.D., Senior Vice President, Research at Biogen. ``We view the collaboration as an opportunity to build on our leadership in using new technologies to understand the heterogeneity of human disease and ensure that our drugs deliver maximum benefit to patients.''
Genaissance discovers HAP(TM) Markers -- akin to genomic bar codes that represent the pattern and organization of DNA variability that each individual inherits -- to enable the development of safer and more effective medicines by identifying associations between a patient's genetic make up and a drug response. The Company is also developing its own internal drug pipeline that will complement existing business strategies focused on establishing technology and drug-specific partnerships with pharmaceutical and biotechnology companies.
``We are pleased to enter into an agreement with Biogen that spans research, development and marketing applications,'' said Gualberto Ruano, M.D., Ph.D., CEO of Genaissance. ``We are proud to be associated with Biogen as they have always been at the forefront of using new technologies such as genetic engineering and, now, pharmacogenomics. We look forward to working together and setting the stage for the introduction of personalized medicines.''... |
