SomaLogic and Otsuka Enter Into Research Collaboration
News May 13, 2008
SomaLogic, Inc. has announced that SomaLogic and Otsuka Pharmaceutical Co., Ltd. entered into a collaboration agreement to use SomaLogic's proprietary aptamer technology to discover and develop diagnostic products and to design research tools that will enhance Otsuka's pharmaceutical discovery and development efforts.
Under the terms of the agreement, SomaLogic will receive committed research funding and will be entitled to receive a royalty on any marketed products developed as a result of the collaboration.
Otsuka also received an option to acquire distribution rights in Asia for certain SomaLogic clinical diagnostics products. In addition, SomaLogic received an equity investment from Otsuka. Other financial terms were not disclosed.
SomaLogic has generated aptamers that target over 500 human proteins. These aptamers have very high affinity and specificity. As part of this collaboration, Otsuka will have access to this growing resource for target validation, drug screening and other assays to accelerate their development of new therapeutics.
In addition, Otsuka will have access to SomaLogic's highly multiplexed proteomic arrays to facilitate the discovery and monitoring of biomarkers in support of Otsuka's clinical programs and therapeutic products.
"We are very pleased to have Otsuka as a collaborator," stated Dr. Larry Gold, CEO of SomaLogic. "Otsuka's broad vision for global healthcare will help us achieve our goal of using aptamer technology to transform medicine. Otsuka believes deeply in the SomaLogic paradigm through which early detection and proper diagnosis of disease leads to both pharmaceutical and nutritional intervention and better health."
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