SAN DIEGO, May 1 /PRNewswire/ -- Alanex Corporation and ICOS Corporation
(Nasdaq: ICOS), announced today the signing of an exclusive agreement to
collaborate on the discovery of small molecule drugs for an undisclosed
target. This agreement utilizes the proprietary technologies and intellectual
properties of both companies. The collaboration enhances the small molecule
program initiated at ICOS in 1994 and expands the number of interesting
targets that are being screened using Alanex's proprietary drug discovery
technology.
ICOS will provide the molecular target, development of the initial assay
systems, secondary assays, and preclinical models. Alanex will be responsible
for design and synthesis of exploratory compound libraries, high throughput
screening, and combinatorial chemistry optimization. Both parties will
contribute equally in the resource allocation of the collaboration and funding
of development, and will also share in commercial rights to any products that
are discovered through the collaboration.
Alanex Corporation, based in San Diego, California, seeks to identify
small molecule drugs using its proprietary drug discovery technologies.
Alanex has developed and integrated its proprietary ChemInformatics system,
with combinatorial chemistry and high throughput screening. This combined
approach is designed to significantly shorten the time required to find lead
compounds and optimize them into viable drug candidates. Alanex has formed
strategic collaborations with Astra Pharma Inc., Novo Nordisk A/S, Roche
Bioscience (a wholly owned subsidiary of Roche Holdings Ltd.) and Aurora
Biosciences Corporation.
ICOS Corporation, based in Bothell, Washington, is discovering and
developing new pharmaceuticals by seeking points of intervention in the
inflammatory process that may lead to more specific and efficacious drugs.
ICOS' research and drug development programs involve both acute and chronic
conditions such as acute respiratory distress syndrome, acute pancreatitis,
asthma, hemorrhagic shock, male erectile dysfunction, multiple sclerosis,
myocardial infarction, and psoriasis.
SOURCE Alanex Corporation
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CONTACT:
Edgardo Baracchini, Ph.D., M.B.A., Director
of Business Development & Strategic Planning of Alanex
Corporation, 619-455-3257; or Lacy Fitzpatrick, Manager, Investor
Relations of ICOS Corporation, 206-485-1900; or Patricia Gitt,
media, or Kate de Santis, investors, of Dewe Rogerson Inc.,
212-688-6840
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