Merck and Diversa to Collaborate on Development of Novel Therapeutic Antibody
Tuesday January 11, 6:30 am ET
SAN DIEGO, Jan. 11 /PRNewswire-FirstCall/ -- Diversa Corporation (Nasdaq: DVSA - News) announced that it has signed an agreement with Merck & Co., Inc. (NYSE: MRK - News) to collaborate on the development of therapeutic antibodies for a key target by applying Diversa's proprietary MedEv(TM) platform. Under the terms of the agreement, Diversa will receive an upfront payment and research funding. No additional financial terms were disclosed.
"Through this collaboration, we intend to leverage the skills and strengths of both companies to develop novel antibodies for an important clinical indication where there is significant unmet medical need," said Gary W. Noon, Diversa's Senior Vice President, Pharmaceuticals.
Dr. Jay M. Short, Diversa's President and Chief Executive Officer, added, "This collaboration complements and extends our internal strategy to develop superior products in the area of protein-based therapeutics."
About Diversa's MedEv(TM) Platform
Two protein engineering technology platforms patented by Diversa comprise the MedEv(TM) antibody optimization platform: Gene Site Saturation Mutagenesis(TM) (GSSM(TM)) and GeneReassembly(TM) technologies. Combined with high-throughput screening, these patented techniques yield a complete picture of the detailed functional behavior of every variant derived from a candidate antibody.
About Diversa
Diversa Corporation is a leader in applying proprietary genomic technologies for the rapid discovery and optimization of novel protein-based products. The Company is directing its integrated portfolio of technologies to the discovery, evolution, and production of commercially valuable molecules with agricultural, chemical, industrial, and pharmaceutical applications. Diversa has established alliances and joint ventures with market leaders, such as Bayer Animal Health, DuPont Bio-Based Materials, GlaxoSmithKline, Medarex, and Xoma. In addition, the Company has formed a broad strategic relationship with Syngenta AG, a world-leading agribusiness company. Diversa has commercialized products both independently and in collaboration with strategic partners and licensees. Additional information is available at Diversa's website: www.diversa.com. |
