SAN DIEGO, Jan. 11 /PRNewswire/ -- Trega Biosciences, Inc. (Nasdaq: TRGA),
today announced that it has entered into an agreement with Boehringer
Ingelheim International GmbH for the custom synthesis of exclusive solution
phase compound libraries. The initial phase of the collaboration is expected
to last approximately six months. Financial terms were not disclosed.
"This is Trega's first collaboration for custom synthesis and complements
our existing Chem.Folio(TM) business," said Michael G. Grey, president and CEO
of Trega. "The goal of this study is to provide BI with directed, solution
phase synthesized compounds optimized to meet their needs. Trega's expertise
in medicinal chemistry, library synthesis, and computational chemistry
provides a strong scientific and technical base to meet increasing market
demand for library synthesis. Contract custom synthesis will also establish
additional sources of revenue for the company. We are excited to have BI
recognize our capabilities and partner with Trega to build libraries for
critical drug discovery programs."
"This agreement is a basis for Boehringer Ingelheim to collaborate with a
competent partner in the field of library synthesis," said Prof. Wetzel, Head
of Corporate Division Research & Development at Boehringer Ingelheim. "The
libraries provided by Trega will enlarge chemical diversity and increase
chances of both lead structure finding and optimization."
The Boehringer Ingelheim group of companies, with headquarters in
Ingelheim (Germany) is one of the 20 leading pharmaceutical corporations in
the world. It reported revenues exceeding DEM 8.7 billion in 1998. The
corporation has more than 140 affiliated companies and it conducts business on
every continent. Its product range is focused on human pharmaceuticals -
hospital, prescription and self-medication - as well as animal health.
Substantial research and development, production, and distribution facilities
are located around the globe. In 1998 Boehringer Ingelheim spent DEM 1.6
billion on R&D, equivalent to 18% of total sales.
For more information on Boehringer Ingelheim please see also the company's
Internet webpage http://www.boehringer-ingelheim.com.
Trega Biosciences is an information-driven technology company focused on
accelerating the process of drug discovery from target identification to
qualification of 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 synthesis of novel compounds to delivering uniquely qualified
drug leads -- to the pharmaceutical and biopharmaceutical industries. Trega
also uses its drug discovery technologies in internal development programs,
which are focused on discovering small molecules acting on melanocortin
receptors for the treatment of inflammatory and metabolic diseases.
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.
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.
SOURCE Trega Biosciences, Inc.
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Related links:
http://www.trega.com
Company News On-Call:
http://www.prnewswire.com/comp/374050.html or fax,
800-758-5804, ext. 374050
CONTACT:
Gerard A. Wills, Vice President, Finance &
CFO, 858-410-6695, or Cynthia Reindal, Corp. Communications &
Investor Relations, 858-410-6601, both of Trega Biosciences, Inc.
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