Fidelta has announced the achievement of a milestone, thereby completing the first phase of an integrated drug discovery project that started in April 2014. Today’s payment remains undisclosed. Furthermore, the next phase of the project has been agreed, which will contribute significantly to Fidelta's revenues in 2015.
Phil Dudfield, Managing Director, Fidelta commented, “We are excited to be working together with LEO Pharma on this integrated project which aims to develop clinical candidates using Fidelta's drug discovery expertise.”
Thorsten Thormann, Senior Vice President, New Product Discovery, LEO Pharma added, "We are delighted to be working together with Fidelta and to see the rapid progress made in this project. In the first phase of the project, Fidelta has shown a very high scientific standard and has delivered to all our expectations. We are looking forward to continuing a close collaboration into the next phase. The collaboration with Fidelta has proven the value of LEO Pharma's partnership model, complementing our internal competences by working with world-class external partners. The partnership model with Fidelta aims to break new ground in the field of dermatology in order to bring solutions to the market that can make a real difference to patients' everyday lives."