Graffinity Announces Multitarget Drug Discovery Research Collaboration with Pfizer
News Nov 30, 2007
Graffinity Pharmaceuticals GmbH announced that it has entered into its second drug discovery collaboration with Pfizer, Inc. Through the collaboration, Graffinity will provide Pfizer with access to its proprietary, fragment-based screening technology for use in screening Pfizer drug targets. The agreement is Graffinity’s sixth discovery collaboration since it was established as an independent company in 2006.
Under the terms of the agreement, Graffinity will receive technology access fees and payments for follow-up chemistry for the generation of novel small molecule hits against a number of drug targets. Financial details of the transaction were not disclosed.
Mathias Woker, Chief Business Officer of Graffinity, remarked, ”We are pleased that Pfizer will be using our high-throughput approach to fragment screening. Our technology allows our partners to identify truly novel chemical entities against demanding drug targets. If desired, we even can give our customers reliable access to allosteric binders during our screens. The combination of these capabilities with a very deep and broad fragment library is what creates the value that our partners seek when working with us”.
Kristina Schmidt, CEO of Graffinity, stated, ”Graffinity was established almost two years ago as an independent company to commercialize its proprietary fragment-based discovery technology. To have entered into six collaborations in such a short period of time highlights the outstanding progress we have made, underscores the potential both of our technology and business model, and positions us as a leader in this growing area of drug discovery.”