4SC Receives Milestone Payment from Research Collaboration with SKK
News Oct 15, 2012
4SC AG has announced that it has received a milestone payment from the Japanese pharmaceutical company Sanwa Kagaku Kenkyusho Co. Ltd., Nagoya (SKK) under a previously-concluded research collaboration.
The milestone payment will go to 4SC Discovery GmbH, a wholly-owned subsidiary of 4SC AG specializing in the early-stage biopharmaceutical research and discovery of new drug substances.
Under the research collaboration, 4SC had contributed its know-how in the field of medicinal chemistry together with its expertise in computerized (in silico) screening and modelling for the rapid discovery, selection and optimization of new drug substances (hits and leads) to investigate new classes of substances for the potential therapy of metabolic diseases.
In its pharmaceutical research and development work, SKK has now achieved decisive progress with an optimized chemical compound resulting from this collaboration, which triggered the contractually-agreed milestone payment.
Dr. Daniel Vitt, Chief Scientific Officer of 4SC AG and Managing Director of 4SC Discovery GmbH commented: 'We are very pleased to have received this milestone payment. This success further stresses our long-standing research expertise and the capabilities of our core technology for the discovery and optimization of new pharmaceutical compounds, a technology that we have been marketing more actively since early 2012 with the newly-launched 4SC Discovery. Our special thanks are due to our partner SKK for the fruitful and pleasant collaboration. We intend to use this and, in the future, similar ventures to further strengthen the business of both 4SC Discovery and the entire 4SC Group.'