Graffinity and Amgen Enter into Drug Discovery Research Agreement
News Feb 26, 2007
Graffinity Pharmaceuticals GmbH has announced that it has entered into a research collaboration with Amgen, Thousand Oaks, California. Under the terms of the agreement, Graffinity will receive technology access fees and success payments for the generation of small molecule hits against a broad range of drug targets.
Amgen will gain access to Graffinity’s proprietary fragment-based drug discovery technology which uses chemical microarrays to screen for small molecule fragments that bind to a variety of drug targets which play a key role in major human diseases. The identification of modes of action and chemistry is a major focus of the collaboration. Financial details of the transaction were not disclosed.
Mathias Woker, Chief Business Officer of Graffinity, stated, ”We are very pleased that Amgen has decided to partner with us. The novel chemistry that our technology can introduce into a medicinal chemistry program is one of the major reasons why fragments have become a new standard in drug discovery programs of large pharma and biotech companies. Graffinity offers one of the largest fragment libraries commercially available today with about 20,000 fragments and 90,000 lead-like structures.”
Kristina Schmidt, CEO of Graffinity, remarked,”With launching the Amgen collaboration, which marks our third collaboration with a major life science company during the past 12 months, the Graffinity team has surpassed every expectation that our shareholders had at the beginning of 2006 when we created the new Graffinity in a management buyout that positioned Graffinity as one of the major players in the field of fragment based drug discovery.”