Graffinity and Elan in fragment-based drug-discovery collaboration
4 February 2009
Graffinity Pharmaceuticals GmbH has entered into a research
collaboration with Elan Pharmaceuticals, Inc., a subsidiary of Elan
Corporation, plc (NYSE:ELN). Under the terms of the agreement,
Graffinity will receive technology access fees and success payments for
the generation of novel small molecule hits against a number of drug
targets.
Elan will gain access to Graffinity’s proprietary fragment-based drug
discovery technology which uses chemical microarrays and surface plasmon
resonance to screen for small molecule fragments that bind to a variety
of drug targets. The identification of novel modes of action and
chemistry is a major focus of the collaboration. Financial details of
the transaction were not disclosed.
Mathias Woker, Chief Business Officer of Graffinity, stated, "We are
very pleased that Elan has decided to work with us. With this
transaction we are launching our third drug discovery collaboration with
a major life science company within the past nine months. This
collaboration marks our transition to becoming the leading
fragment-based drug discovery company."
Kristina Schmidt, CEO of Graffinity, said, "The reason for the
heightened attention that our fragment screening approach currently
receives, lies in three key advantages that only Graffinity offers in
combination: first, Graffinity’s technology provides the broadest and
deepest primary screen for fragment hits ever developed, second, the
platform delivers readily usable novel chemistry within only four
months, and thirdly, the Graffinity team possesses unparalleled know-how
based on having screened more drug targets than any other team in the
fragment space."
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