Trega Biosciences and EVOTEC BioSystems Form Strategic Alliance
SAN DIEGO and HAMBURG, Germany, Jan. 19 /PRNewswire/ -- Trega Biosciences, Inc. (Nasdaq: TRGA), and EVOTEC BioSystems AG (Neuer Markt: EVT), based in Hamburg, Germany today announced that they have entered into a strategic collaboration comprising the joint development of novel, high-throughput ADME assays for use in drug discovery lead optimization, a licensing agreement regarding Trega's IDEA(TM) predictive model and the purchase of Trega's Chem.Folio(TM) chemistry libraries by EVOTEC.
Collaborative research program
Trega and EVOTEC will collaborate on the development of new, miniaturized, high-throughput ADME (Absorption, Distribution, Metabolism and Excretion) assays for pre-clinical lead optimization. The objective is to identify drug candidates with higher chances of success prior to clinical testing in a faster and more cost-efficient manner. The collaboration combines EVOTEC's unique expertise in ultra high-throughput screening technology (uHTS), miniaturized assay development and its detection expertise based on its proprietary single molecule detection technology (FCS+plus) with Trega's extensive capabilities in the field of ADME screening and assay development. The ADME assays resulting from this collaboration will be utilized by both companies to enhance their respective research efforts.
Under the terms of the agreement EVOTEC will have an exclusive license to all developed assays while Trega will be entitled to royalties on drug discovery collaboration revenues of assays offered to third parties by EVOTEC. Trega also will own data generated on a selected set of compounds.
Access to Trega's IDEA(TM) Predictive Model
Under the terms of the agreement, EVOTEC will receive a license to Trega's IDEA predictive model. IDEA is a quantitative and predictive simulation model developed as part of Trega's iDiscovery(TM) technology. The model is designed to generate data capable of enhancing identification and optimization of lead compounds for ADME characteristics. The absorption module of the IDEA model is currently available for sale. In addition, compounds from the Chem.Folio library will be screened through the new jointly developed assays and the data will be used to enhance the IDEA predictive models.
Sale of Trega's combinatorial chemistry libraries, Chem.Folio(TM)
EVOTEC will purchase certain amounts of all compounds contained within Trega's inventory as well as compounds produced through the end of 2000. The compounds purchased will also include the associated information, such as synthetic protocols, cytotoxicity, and physico-chemical data, which demonstrates the suitability of the compounds for screening. EVOTEC will use the compounds in its internal drug discovery programs as well as make them accessible on a fee per compound basis for their screening customers including a payment to Trega.
"EVOTEC's expertise in developing innovative screening technology and assays will expand the breadth of Trega's continuing efforts in the ADME simulation area," said Michael G. Grey, president and CEO of Trega. "The output of this collaboration will significantly accelerate the development of IDEA, and increase the value of Trega's Chem.Folio libraries to its customers. EVOTEC's decision to screen Chem.Folio libraries and offer them through their service business to their customers is yet another indication of the value of Trega's libraries and the strength of Trega's business as a supplier of quality chemistry. Through joint marketing of the screening libraries and EVOTEC's ultra high-throughput screening services, EVOTEC can become an additional distribution channel for Trega's compounds by offering them to its customers."
"Miniaturized cellular ADME assays in high-throughput mode represent a major breakthrough in early drug discovery," said Dr. Timm Jessen, Chief Scientific and Operating Officer of EVOTEC BioSystems AG. "The innovative drug discovery tools that will result from this collaboration including access to IDEA and Chem.Folio will significantly increase our drug discovery capabilities and expertise. The alliance with Trega is consistent with EVOTEC's business strategy in providing cutting-edge and innovative drug discovery technologies to biotechnology and pharmaceutical partners."
Trega Biosciences is an information-driven company focused on accelerating drug discovery from disease targets to clinical candidates through iDiscovery(TM) comprised of small molecule combinatorial chemistry, high throughput screening and predictive bioinformatics to rapidly create novel drug candidates having greater chances of clinical success. Trega offers integrated products and services spanning the drug discovery process -- beginning with synthesizing novel compounds to providing uniquely qualified drug leads -- to the pharmaceutical and biopharmaceutical industries. Trega also uses its drug discovery technologies in its internal development programs, which are focused on discovering small molecules acting on melanocortin receptors, which may be important in the treatment of inflammatory and metabolic diseases.
EVOTEC is a biotechnology company that focuses on finding new and effective drugs that correspond to unmet medical needs by developing and utilizing integrated technologies to overcome the current obstacles and challenges of the drug discovery process. EVOTEC's technology represents the first one-microliter miniaturized platform applicable across the entire drug discovery process: from target identification, through high-throughput screening and profiling, to ADME/Tox studies. EVOTEC's multi-disciplinary team of experienced scientists offers drug discovery services to the life science industry. Furthermore EVOTEC's in-house drug discovery programs focus on Alzheimer's disease, cancer and infectious diseases. EVOTEC's most important partnerships include Novartis, SmithKline Beecham, Pfizer, BASF Pharma and Roche. The company currently employs a staff of 228 and has generated revenues of DM 14.3 million in 1998. EVOTEC shares have been listed on the Neuer Markt of the Frankfurt Stock Exchange since 10 November 1999.
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including whether this collaboration will be successful, any additional collaborations or alliances will be agreed to, formed or expanded, whether the IDEA models can be successfully developed and commercialized, whether regulatory approvals can be obtained for products discovered and developed, if any, the impact of competitive products and pricing, whether any other corporate collaborations or alliances will be successful, and other risks detailed from time to time in Trega's Securities and Exchange Commission filings. These forward-looking statements represent Trega's judgment as of the date of this release. Actual results may differ materially from those projected. Trega disclaims, however, any intent or obligation to update these forward-looking statements.
For copies of press releases and additional information, please consult Trega's web site at trega.com or by PR Newswire's fax-on-demand service at 1-800-758-5804, extension 374050. For EVOTEC, please consult evotec.com.
SOURCE Trega Biosciences, Inc.
CO: Trega Biosciences, Inc.; EVOTEC BioSystems AG
ST: California, Germany
IN: MTC BIO
SU: JVN PDT
01/19/2000 08:00 EST prnewswire.com |
