SAN DIEGO, Oct. 4 /PRNewswire/ -- Trega Biosciences, Inc. (Nasdaq: TRGA),
focused on commercializing technologies and products for accelerating drug
discovery and development, today announced that it signed an agreement with
PhycoGen Inc. of Portland, Maine, whereby Trega will provide its Chem.Folio(R)
chemistry services to PhycoGen for use in discovery programs that involve
biological cell adhesion processes. Under the terms of the agreement, Trega
will receive up-front and milestone payments in exchange for the design and
synthesis of custom compounds according to PhycoGen's specifications.
Additional financial details were not disclosed.
"This agreement represents PhycoGen's recognition of our expertise in
applying innovative chemistries to generate novel compounds for interesting
targets," said Michael G. Grey, Trega's President and CEO. Mr. Grey
continued, "Leveraging our continually expanding and increasingly valuable
contract chemistry business is an important part of our growth strategy."
Ernst Bachofner, PhycoGen's CEO, stated, "We are pleased to be aligned
with Trega, who has a reputation for resolving difficult synthetic processes.
This collaboration will allow PhycoGen to expand its synthetic compound
collection with pure, high quality compounds customized for our programs."
Trega's Chem.Folio(R) combinatorial chemistry libraries offer
pharmaceutical, biotechnology, agriculture and life science research companies
access to novel, structurally diverse and information-rich compounds for use
in their drug discovery programs. Chem.Folio(R) libraries are designed to
possess drug-like properties and are created using Trega's proprietary
technologies and medicinal chemistry principles. Trega's unique technologies
efficiently synthesize and generate highly pure compounds, while allowing
rapid follow-up synthesis for lead optimization.
Trega Biosciences, Inc. is a premier provider of products designed to
accelerate and improve drug discovery through its iDiscovery(TM) technologies
linking biology and chemistry with information technologies. Trega's iDEA(TM)
family of information-based models simulate, in silico, how drug candidates
will be processed in the body, thereby enabling selection of those with
optimal characteristics for clinical development. Together with its iDEA(TM)
products, Trega's Chem.Folio(R) libraries of information-enhanced small
molecules are designed to facilitate the identification and optimization of
drug candidates. For additional information on Trega, please visit our Web
site at http://www.trega.com.
PhycoGen, Inc., a biotechnology company, is a leader in the discovery and
development of bioadhesion control technologies. The Company is focused on
the development of pro-adhesive and anti-adhesive products emerging from its
proprietary platform technology centered on novel chemistries with a unique
mode of action. PhycoGen's technology targets multiple market segments
including crop protection, human health, marine antifouling, personal care and
industrial processes.
Except for the historical information contained herein, the matters
discussed in this news release are forward-looking statements that involve
risks and uncertainties, whether any research or development to be conducted
as described will be successful, whether competitive products and pricing will
have a significant impact on marketing success, whether any corporate
collaborations or alliances will be formed or 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/comp/374050.html or fax,
800-758-5804, ext. 374050
CONTACT:
Gerard A. Wills, Chief Financial Officer,
858-410-6695, or Cynthia Reindal, Associate, Corporate
Communications & Investor Relations, 858-410-6601, both of Trega
Biosciences, Inc.
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