Sareum Announces $5Million Research Collaboration with Idenix
News Feb 14, 2006
The aim of this collaboration, which is planned to run for approximately one year, is to generate lead chemical series for development by Idenix into drug therapies for hepatitis C virus infection.
This is the second collaboration between Sareum and Idenix; the first collaboration relating to HIV was announced on 10 January 2006.
Sareum will provide multi-disciplinary research teams to determine the three-dimensional structures of two of Idenix’s hepatitis C disease protein targets and then deploy its innovative Template Screening method in an effort to identify novel compounds suitable for optimisation into lead drug candidates, using its automated medicinal chemistry platform.
In return, Sareum will receive research fees and milestone payments up to a value of approximately US$5 million, dependent on success, plus an additional milestone payment if compounds from this collaboration advance to clinical development.
Commenting on this announcement, Sareum’s Chief Executive Officer, Dr Tim Mitchell, said, "We are delighted to have signed this agreement. We are very pleased that Idenix have chosen Sareum for an additional collaboration."
"This provides further validation of our capabilities and demonstrates that we are a partner of choice for structure-based lead generation and optimisation. We see this as a significant advancement for Sareum."