Pharmacopeia and Organon Extend Drug Discovery and Development Collaboration
News Sep 07, 2005
Pharmacopeia has announced that it has extended its long- standing collaboration with N.V. Organon.
The partnership has delivered multiple lead series that are currently being advanced towards or through preclinical toxicological studies in anticipation of initiating clinical trials.
As a consequence of the success to date, the collaboration, initiated in 2002, has been extended to 2007.
Organon elected to continue the collaboration by accepting the latest preclinical lead candidate generated by Pharmacopeia's integrated and proprietary drug discovery and development platform.
Under the terms of the initial agreement, as amended, acceptance of this latest lead candidate prior to the end of 2005, along with clear progress on further lead series, resulted in the continuation of the collaboration.
The acceptance and continuation of the collaboration also terminated Organon's right to a credit against future milestone payments referenced in the amendment to the collaboration agreement from July 13th, 2005, which was filed with the SEC on July 18th, 2005.
The collaboration goals remain unchanged and involve the companies working together to produce advanced preclinical lead compounds meeting stringent criteria for potency, physico-chemical properties, in vivo pharmacokinetics and efficacy in relevant animal models.
"We are pleased with the productivity of our collaboration with Organon and are confident that during the term we will continue to deliver high- quality preclinical leads and drug candidates for Organon to advance into development," said Les Browne, Ph.D., President and Chief Executive Officer of Pharmacopeia.
He adds, "Working with a quality organization like Organon has helped Pharmacopeia to forward-integrate our business and build our own wholly-owned portfolio to complement our partnered programs."
"I am very satisfied with our collaboration with Pharmacopeia and given our success together to date it was quite natural for us to continue," said David Nicholson, Executive Vice President, Global Research.
He adds, "We are looking forward to advancing additional candidates produced by the collaboration."