ChemDiv and SK Corporation Extend Collaboration into 2008

ChemDiv, Inc. and SK Corporation have announced that they have extended the previous collaboration through 2008.

Under this agreement, ChemDiv is supplying SK Corporation with discovery chemistry libraries and medicinal chemistry services in addition to assisting the company in hit-to-lead optimization projects initiated at SK Institute of Technology in Daejeon.

"We are very proud that SK Corporation, Korea's leading integrated energy and chemical company and a pioneer in new drug development business, maintains ChemDiv as the partner for their new drug discovery research projects," said Nikolay Savchuk, President of ChemDiv.

"This collaboration is an indicator of continued confidence in the value ChemDiv brings as a partner to the SK Corporation Drug Discovery Program."

"We look forward to our continued collaboration with ChemDiv," said Dr. Byongsung Kwak, Head of BioPharmaceutical Division of SK Corporation.

"We are confident that the company's diverse sets of drug-like small molecules and their state-of-the-art facilities and capabilities in both the US and Europe will continue to be a significant asset to SK Corporation in our research, development, manufacturing and marketing of drugs, active substances and intermediates."