SAN DIEGO, Jan. 6 /PRNewswire/ -- Trega Biosciences, Inc. (Nasdaq: TRGA),
today announced that it has signed an agreement to supply DuPont Crop
Protection, a business unit of DuPont (NYSE: DD), with non-exclusive
small-molecule, combinatorial chemistry libraries through its Chem.Folio(TM)
program. Under the terms of the agreement, Trega will receive an up front
payment for compounds and associated information, plus potential milestones
and royalties, including the possibility of further collaboration in the
future. Financial terms of the agreement were not disclosed.
"Trega is pleased to supply DuPont, our first agrochemical customer, with
Chem.Folio compounds," said Michael G. Grey, President and CEO of Trega. "The
diversity of Chem.Folio compounds as well as their associated information,
which has proven to be valuable in the pharmaceutical arena, can now have
beneficial applications in the agricultural sector. DuPont's purchase of
Chem.Folio libraries emphasizes their broad utility and application."
Elmo Beyer, Vice President for Strategic R&D Planning for DuPont's
agriculture and nutrition businesses, noted that "We are indeed pleased to
gain access to the creativity imbedded in the chemical diversity of Trega's
library of compounds as one element of DuPont's extensive high throughput
screening effort for novel crop protection products."
Trega Biosciences is an information-driven company focused on accelerating
the process of drug discovery from disease targets to clinical candidates by
using small molecule combinatorial chemistry, high throughput screening and
predictive bioinformatics to rapidly create novel drug candidates having
greater chances of clinical success. In combination with its wholly owned
subsidiary, NaviCyte, Trega offers integrated products and services spanning
the drug discovery process - beginning with synthesizing novel compounds to
providing uniquely qualified drug leads -- to the pharmaceutical and
biopharmaceutical industries. Trega also uses its drug discovery technologies
in its internal development programs, which are focused on discovering small
molecules acting on melanocortin receptors, which may be important in the
treatment of inflammatory and metabolic diseases.
DuPont is a science company, delivering science-based solutions that make
a difference in people's lives in food and nutrition; health care; apparel;
home and construction; electronics; and transportation. Founded in 1802, the
company operates in 65 countries and has 97,000 employees.
Except for the historical information contained herein, the matters
discussed in this news release are forward-looking statements that involve
risks and uncertainties, including whether this collaboration will be
successful, any additional collaborations or alliances will be agreed to,
formed or expanded, whether regulatory approvals can be obtained for products
discovered and developed, if any, the impact of competitive products and
pricing, whether any other corporate collaborations or alliances will be
successful, and other risks detailed from time to time in Trega's Securities
and Exchange Commission filings. These forward-looking statements represent
Trega's judgment as of the date of this release. Actual results may differ
materially from those projected. Trega disclaims, however, any intent or
obligation to update these forward-looking statements.
SOURCE Trega Biosciences, Inc.
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CONTACT:
Gerard A. Wills, Vice President, Finance &
CFO, 858-410-6695, or Cynthia Reindal, Corp. Communications &
Investor Relations of Trega Biosciences, 858-410-6601; or
Gabrielle King of DuPont Public Affairs, 302-992-6285
NOTE TO EDITORS: For copies of press releases and additional
information about the Company, please consult Trega's homepage on
the World Wide Web at http://www.trega.com. or by PR Newswire's
fax-on-demand service at 1-800-758-5804, extension 374050.
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