SAN DIEGO, May 8 /PRNewswire/ -- Trega Biosciences, Inc. (Nasdaq: TRGA)
today announced that it has reached a research milestone in its agreement with
the Procter & Gamble Company (P&G). Using Trega's combinatorial chemistry
libraries, P&G has identified a series of lead compounds that are active
against a P&G biological target. As a result of this accomplishment, P&G has
exercised its option to an exclusive, world-wide license to further develop
these compounds. The milestone also triggered an undisclosed cash payment to
Trega.
"We are happy to announce the achievement of this milestone with P&G,"
said Robert S. Whitehead, Trega's chairman and chief executive officer. "This
is the second announcement this year we have made regarding a pharmaceutical
company identifying valuable lead compounds to move into development from
Trega libraries. These achievements are indicative of the value of Trega's
combinatorial chemistry libraries for enhancing the drug discovery efforts of
our pharmaceutical partners."
Trega Biosciences is a drug discovery company, utilizing combinatorial
chemistry and other technologies to pursue the discovery of novel, small-
molecule drug therapies. The company leverages its technology platform by
entering into pharmaceutical alliances, which provide partners with access to
Trega's technologies in exchange for licensing fees and potential milestones
and royalties, or by establishing joint-discovery alliances with
pharmaceutical and biotechnology companies. Trega also uses its drug
discovery technologies in its internal development programs, which are focused
today on discovering small molecules acting on melanocortin receptors.
Melanocortins are a newly discovered receptor pathway 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 any proposed product can be
successfully formulated, scaled-up, developed, and commercialized, whether
regulatory approvals can be obtained, the impact of competitive products and
pricing, whether any 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.
Trega's releases are on the World Wide Web at http://www.trega.com and 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 or
fax, 800-758-5804, ext. 374050
CONTACT:
Robert S. Whitehead, Chairman & CEO,
619-410-6631, or Vince Reardon, Corporate Communications,
619-410-6555, both of Trega Biosciences
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