Pharmacopeia Collaboration With Celgene Corporation Advances Compound Into Phase 1 Clinical Development
Wednesday March 5, 7:30 am ET
PRINCETON, N.J., March 5 /PRNewswire-FirstCall/ -- Pharmacopeia (Nasdaq: PCOP - News), an innovator in the discovery and development of novel small molecule therapeutics, announced today that Celgene Corporation has initiated a Phase 1 clinical study of a compound based on its collaboration with Pharmacopeia.
ADVERTISEMENT
"We are pleased to see our collaboration with Celgene advance a program into Phase 1 trials," said Les Browne, Ph.D., President and Chief Executive Officer of Pharmacopeia. "This milestone expands our clinical development stage pipeline to eight programs, of which we are developing two internally."
Celgene is solely responsible for the funding and management of development and commercialization of this inflammatory disease candidate. Pharmacopeia currently receives an annual license fee from Celgene for this program and is eligible to receive milestone payments if the program advances further in clinical trials. Pharmacopeia will also receive royalties on sales of any resulting therapeutic products incorporating compounds derived from the program.
ABOUT PHARMACOPEIA
Pharmacopeia is a clinical development stage biopharmaceutical company dedicated to discovering and developing novel small molecule therapeutics to address significant medical needs. The company has a broad portfolio of clinical and preclinical candidates under development internally or by partners including eight clinical compounds in Phase 2 or Phase 1 development addressing multiple indications including hypertension, diabetic nephropathy, muscle wasting, inflammation and respiratory disease. The company is leveraging its fully integrated drug discovery platform to sustain the growth of its development pipeline. Pharmacopeia has established strategic agreements with major pharmaceutical and biotechnology companies, including Bristol-Myers Squibb, Celgene, Cephalon, GlaxoSmithKline, Schering-Plough, and Wyeth Pharmaceuticals. For more information please visit the company's website at pharmacopeia.com. |
