Pharmacopeia Forms New Research Collaboration With ALTANA Pharma AG
PRINCETON, N.J., Feb. 3 /PRNewswire-FirstCall/ -- Pharmacopeia, Inc. (Nasdaq: PCOP - News) today announced that it has entered into a research collaboration with ALTANA Pharma AG of Konstanz, Germany. Pharmacopeia and ALTANA will work together to identify and optimize small molecule lead compounds suitable for advanced development.
Under the terms of this agreement, Pharmacopeia will provide its small molecule discovery expertise and unique discovery assets, including its multi- million compound collection of proprietary drug-like small molecules and its considerable modelling and design capabilities, to identify and optimize leads in a key therapeutic area for ALTANA. Pharmacopeia will receive funding for providing the research services and will be entitled to receive additional payments upon the successful achievement of milestones, and royalties upon the commercialization of any drugs resulting from the relationship.
"We are very pleased to have the opportunity to enter into a research collaboration with ALTANA," said Stephen Spearman, Ph.D., Chief Operating Officer of Pharmacopeia. "We look forward to working together and to contributing to ALTANA's considerable success in drug discovery."
About Pharmacopeia
Pharmacopeia (www.pharmacopeia.com) is a leader in enabling science and technology that accelerates and improves the drug discovery and chemical development processes. Pharmacopeia's Drug Discovery business integrates proprietary small molecule combinatorial and medicinal chemistry, high- throughput screening, in-vitro pharmacology, computational methods and informatics to discover and optimize lead compounds. Pharmacopeia's software subsidiary, Accelrys, develops and commercializes molecular modeling and simulation software for the life sciences and materials research markets, cheminformatics and decision support systems, and bioinformatics tools including gene sequence analysis. Accelrys consulting services provides expert assistance in the configuration, implementation and integration of a wide variety of software solutions to enable superior research and discovery. Pharmacopeia is headquartered in Princeton, New Jersey.
About ALTANA Pharma AG
ALTANA Pharma AG is the pharmaceutical division of ALTANA AG, headquartered in Konstanz, Germany. The international pharmaceutical group with more than 7,700 employees and 30 subsidiaries is holding participations in Europe, North and South America, Asia, South Africa and Australia. ALTANA Pharma concentrates on innovative pharmaceutical products in therapeutics, imaging (contrast media) and OTC medication. Therapeutics, the most important business area, is based on prescription drugs for gastrointestinal, respiratory and cardiovascular indications. In 2002, ALTANA Pharma achieved sales of about 1.9 billion Euros, up 17% from 2001. Investment in Research and Development - approximately 20% of sales revenues - is increased continually in order to strengthen and expand ALTANA Pharma's market position. Research and Development is focused primarily on the Company's core competencies, respiratory and gastroenterological diseases. The newest area of research is oncology. For more information visit www.altanapharma.com. |
