Argenta Discovery Announces Contract Drug Discovery Collaboration with BioTie Therapies
News Apr 06, 2007
Argenta Discovery Ltd. has announced that it has entered into a lead optimisation collaboration with BioTie Therapies Corp. Under the terms of the agreement, scientists from the two companies will exploit Argenta’s expertise in medicinal chemistry, computer-aided drug design (CADD), and early ADME to advance one of BioTie’s therapeutics programmes towards development candidate nomination.
Commenting on the agreement, Dr Christopher Ashton, Argenta’s CEO, said, “We are delighted that BioTie has chosen to work with Argenta on this project. This is our first collaboration with the company and we believe their decision to work with Argenta is a tribute to the capabilities and the expertise of our contract drug discovery team in undertaking lead optimisation projects. We look forward to building a successful and long-term relationship with BioTie.”
Dr Timo Veromaa, President and CEO of BioTie said, "We are pleased to have Argenta as our partner. Argenta has a good reputation in contract drug discovery and we anticipate their skills and know-how will help accelerate this important ‘first in class’ late discovery programme into full pre-clinical development. We look forward to working with them.”
Financial terms of the deal were not disclosed, but the agreement does provide options to expand the relationship.