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BioFocus and the National Cancer Institute Sign Compound Management Agreement
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BioFocus announced that its Compound Focus subsidiary has signed an agreement with the National Cancer Institute (NCI), part of the U.S. National Institutes of Health (NIH).
Under the terms of the agreement, BioFocus will provide compound management services to NCI for a base period of three years for a total of up to $5 million (€3.7 M), with two one-year extension options.
BioFocus runs a compound management facility for a number of industrial and U.S. government customers out of its Compound Focus, Inc. subsidiary in South San Francisco.
Under the agreement announced, Compound Focus will establish a Small Molecule Repository for the NCI Chemical Biology Consortium (CBC). This repository will form part of the CBC’s drug discovery and development platform for new oncology therapeutics being researched by a consortium of primarily academic institutions. The base three year contract is funded by American Recovery and Reinvestment Act (ARRA) funds.
“We are pleased to welcome the National Cancer Institute as a new collaborator. Compound Focus has done very well to expand its long-standing relationship with the NIH into this new project with the NCI,” said Onno van de Stolpe, CEO of Galapagos. “Our compound management facility has met or exceeded its revenue objectives since we acquired it in 2006, making it a solid contributor to our service division’s revenue stream.”
Under the terms of the agreement, BioFocus will provide compound management services to NCI for a base period of three years for a total of up to $5 million (€3.7 M), with two one-year extension options.
BioFocus runs a compound management facility for a number of industrial and U.S. government customers out of its Compound Focus, Inc. subsidiary in South San Francisco.
Under the agreement announced, Compound Focus will establish a Small Molecule Repository for the NCI Chemical Biology Consortium (CBC). This repository will form part of the CBC’s drug discovery and development platform for new oncology therapeutics being researched by a consortium of primarily academic institutions. The base three year contract is funded by American Recovery and Reinvestment Act (ARRA) funds.
“We are pleased to welcome the National Cancer Institute as a new collaborator. Compound Focus has done very well to expand its long-standing relationship with the NIH into this new project with the NCI,” said Onno van de Stolpe, CEO of Galapagos. “Our compound management facility has met or exceeded its revenue objectives since we acquired it in 2006, making it a solid contributor to our service division’s revenue stream.”
