Avalon Pharmaceuticals Announces Small Molecule Drug Discovery Program
News Sep 14, 2005
Avalon Pharmaceuticals, Inc. has announced that it is entering into collaboration with Novartis to discover small molecule therapeutic compounds targeted against a pathway selected by Novartis.
Avalon will use its AvalonRx® drug discovery engine in this pilot study to identify hits from compounds in Novartis' chemical library.
Novartis will be responsible for lead optimization, preclinical and clinical testing of any resulting product candidates, as well as all future development and sales and marketing activities.
Under the terms of the agreement, Avalon will receive an upfront payment, research support, and milestone payments.
"We are very pleased to enter this drug discovery collaboration with one of the top pharmaceutical companies in the world," stated Ken Carter, Ph.D., CEO of Avalon.
"As our second chemical genomics deal since June, this collaboration is further validation of the potential value of our AvalonRx® drug discovery engine."