Company Identifies Lead Compounds in First Phase of
Research & Development Program
SAN DIEGO, July 15 /PRNewswire/ -- Trega Biosciences, Inc.
(Nasdaq: TRGA), today announced that it had identified several lead compounds
in the first phase of its previously announced research and development
agreement with Ono Pharmaceuticals Co., Ltd., Osaka, Japan, triggering a
milestone payment to Trega to fund the next phase of the program.
Trega, which screened its own combinatorial chemistry libraries for active
compounds, will now optimize lead compounds and conduct pre-clinical testing
of orally-active small molecules for the treatment of certain inflammatory
diseases mediated by the melanocortin-1 (MC-1) receptor pathway through
cytokine regulation.
"We are delighted with the initial success of this program in melanocortin
biology, specifically involving the MC-1 receptor," said Robert S. Whitehead,
Trega's chairman and chief executive officer. "We believe this receptor
pathway plays a significant role in a broad range of inflammatory diseases and
the opportunity of developing lead compounds into commercial drugs has taken a
major step forward in this partnership with Ono Pharmaceuticals."
Ono has exclusive marketing rights in the Far East and co-marketing rights
in Europe. Trega has co-marketing rights in Europe and has exclusive
marketing rights in the rest of the world, including North America.
Ono Pharmaceutical Co., Ltd. is an Osaka, Japan-based pharmaceutical
company, focusing on research and development of novel drugs and is recognized
as a world leader in prostaglandins and enzyme inhibitors. Ono was
established in 1717 and is the 12th largest pharmaceutical company ranked by
sales in Japan with fiscal 1997 sales of Yen 121,345 million.
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 class of receptors which may be important in 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 the research to be conducted under
this collaboration, as described, or other aspects of the research to be
conducted under 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, whether any such products can be successfully marketed, the impact of
competitive products and pricing, in marketing success, 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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Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 374050
CONTACT:
Robert S. Whitehead, Chief Executive Officer
of Trega Biosciences, 619-410-6631; or Vince Reardon, Director,
Corporate Communications of Trega Biosciences, Inc., 619-410-6555
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