Boehringer Ingelheim to Expand Drug Discovery Aggrement with Graffinity
News Dec 14, 2006
Graffinity Pharmaceuticals GmbH has announced that its partner Boehringer Ingelheim Pharmaceuticals, Inc. has chosen to exercise options in its original agreement with Graffinity that will increase the number of targets screened by Graffinity as part of this global alliance.
Under the terms of the agreement, Graffinity will receive additional technology access fees for the generation of multiple small molecule hit series against a variety of drug targets from different therapeutic areas.
Graffinity will apply its proprietary fragment based drug discovery technology and drug fragment chemical microarrays to identify small molecule hit structures focusing on compounds with modes of action.
Kristina Schmidt, Chief Executive Officer of Graffinity, remarked,”Boehringer Ingelheim is taking full advantage of our proprietary process for rapidly identifying quality fragment hits. We believe that this collaboration is a validation of Graffinity’s approach of accelerating drug discovery through innovations in fragment based drug discovery."
Both companies, Boehringer Ingelheim and Graffinity Pharmaceuticals, reiterated the importance of the continuation and expansion of this collaboration which complements Boehringer Ingelheim's in-house capabilities and will include a number of additional drug targets.