SAN DIEGO, Feb. 14 /PRNewswire/ -- Trega Biosciences, Inc. (Nasdaq: TRGA)
and Discovery Technologies Ltd. (DTL), a subsidiary of Discovery Partners
International Inc., today announced that they have entered into a relationship
involving the distribution of Trega's Chem.Folio(R) chemistry libraries by
DTL. Under the terms of the agreement, DTL will receive libraries on a
non-exclusive basis for client screening through DTL's ultra high-throughput
(uHTS) screening technology. Trega will receive an up-front payment plus
additional fees on compounds accessed by DTL customers for a period of
two years. Financial terms were not disclosed.
"Trega is pleased to expand the reach of its Chem.Folio libraries by
having them available to DTL customers," said Michael G. Grey, President and
CEO of Trega. "This relationship continues the development of additional
important distribution channels for Chem.Folio libraries. Chem.Folio's
diverse, unique and information-rich compounds will be a valuable and
complementary addition to DTL's existing libraries."
"Chem.Folio will significantly increase the value of our drug discovery
services and is a perfect addition to our other discovery libraries of
350,000 single compounds today. Customers can access the library together
with our assay design and uHTS-services on a fee-for-service basis which
represents a valuable alternative or addition to their in-house discovery
activities," said Helmut Kessmann, SVP for Business Development and Marketing
of DTL.
Trega Biosciences is an information-driven company focused on accelerating
drug discovery from disease targets to clinical candidates through its
iDiscovery(TM) technologies comprised of small molecule combinatorial
chemistry, high throughput screens and predictive models to rapidly create
novel drug candidates having greater chances of clinical success. Trega's
iDiscovery technologies span the drug discovery process, beginning with
synthesizing novel compounds to providing uniquely qualified drug leads to the
pharmaceutical and life-science industries.
Discovery Technologies Ltd., formerly substantially funded by the Novartis
Venture Fund, is an independent contract research and technology company
specializing in high-throughput screening capabilities, customized assay
development/optimization, target production and access to chemical libraries.
The Company has developed a fully automated proprietary HTS-Factory(TM) that
currently has the capacity to screen over 100,000 compounds per day, making it
possible to identify small molecules with desired biological activity, faster
and more efficiently than ever before. The Company has contracts with well
over a dozen pharmaceutical, biotechnology and agricultural chemistry
customers worldwide.
Discovery Partners International is focused on providing the best
platforms, services and information available to augment the internal
discovery efforts of pharmaceutical and biopharmaceutical companies. The
company is headquartered in San Diego, California.
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 relationship 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, please consult
Trega's web site at http://www.trega.com or by PR Newswire's fax-on-demand
service at 1-800-758-5804, extension 374050.
SOURCE Trega Biosciences, Ltd.
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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.; or Helmut Kessmann, Ph.D., SVP Business Development of
Discovery Technologies Ltd., +41-61-487-8585
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