ArQule and Nanodesign Enter Into Collaboration for Novel Drug
Business Editors & Health/Medical Writers
MONTREAL--(BW HealthWire)--Jan. 16, 2001--Arqule (TSE:SGI.) Nanodesign (TSE:SGI.)
ArQule, Inc. and Nanodesign Inc., a wholly-owned subsidiary of SignalGene Inc., announced today that they have entered into a collaboration to develop and apply a novel compound design platform for drug discovery.
This proprietary new technology platform will use information about the structure of a biological target from sources such as structural genomics and binding assays to generate novel chemical designs for combinatorial libraries of drug-like molecules. Financial terms of the agreement were not disclosed.
In the collaboration, ArQule and Nanodesign will each contribute certain proprietary knowledge to co-develop new software that will enhance and link their respective technologies in the area of de novo molecular design. The new technology platform will automatically translate structural information about a biological target into thousands of drug-like chemical compounds that potentially bind to the target. Nanodesign will also provide ArQule with molecular design services as an optional part of ArQule's Parallel Track(TM) Drug Discovery Program. Both companies may use the new technology platform resulting from the collaboration in drug discovery projects for themselves and their collaborators.
"This collaboration validates and reinforces our methods of de novo drug design. A combinatorial synthetic approach to our proprietary design process will allow a faster and more thorough exploration of chemical diversity. Through alliances with technology leaders of the calibre of ArQule, Nanodesign expects to lead the move towards a virtual medicinal chemistry approach to drug discovery," said Ian Anderson, President & CEO of Nanodesign.
"We are very pleased that Nanodesign has been successful in establishing this relationship with ArQule. This alliance will give SignalGene access to an improved and expanded drug design capability around new targets developed in our genomics-based discovery programs," said Michael Dennis, President & CEO of SignalGene.
"We are delighted to work with Nanodesign in the area of de novo compound design. We believe that de novo design is one of the key technologies for improving the efficiency of the drug discovery process," said Stephen Hill, President and Chief Executive Officer of ArQule.
"Nanodesign is the second collaboration that ArQule has announced in our technology alliance initiative. Last year, we announced a collaboration with Nanoscale Combinatorial Synthesis, Inc. in the area of microscale combinatorial synthesis. ArQule will continue to seek out innovative technology companies like Nanodesign and Nanosyn to help us expand and enhance our PILOT(TM) Drug Discovery Platform," said Michael Rivard, Head of External Technology Alliances, Vice President, and General Counsel.
ArQule collaborates with leading pharmaceutical and biotechnology companies to synthesize and optimize small molecules that have the potential to enter clinical development and become medicines. ArQule's Parallel Track Drug Discovery Program integrates key technologies for high-throughput, automated synthesis of small molecules with technologies that enable more informed, intelligent decisions about what molecules to synthesize. Parallel use of these "what to make" and "how to make" technologies results in rapid, iterative cycles of lead generation, qualification, and optimization of clinical drug candidates. In addition, ArQule also offers access to their high-throughput, automated synthesis and lead optimization platforms through technology licensing agreements. ArQule is based in Woburn and Medford, Massachusetts. For additional information, please visit www.arqule.com.
Nanodesign is a computer-aided drug design company that aims to provide novel chemical structures that have activity at nanomolar concentrations as development candidates. This capability is ligand-based, needs only sparse data sets and little or no previous knowledge around any given therapeutic area. Nanodesign maximizes the value of hits derived from screening programs through designing novel chemical scaffolds that retain desired biological functionality. A thorough exploration of chemical diversity results in the rapid creation of pharmacological analogues.
SignalGene is a company who is developing an integrated genomics-based approach to drug discovery. By combining cutting-edge technologies in pharmacogenomics, functional genomics and drug design with world-class scientific collaborations with university and hospital researchers, SignalGene is taking a leading role in the conversion of genomic information into novel diagnostic and therapeutic products for major human diseases. Current research programs target metabolic disorders (obesity), women's health (breast cancer and osteoporosis), inflammatory disorders (psoriasis) and neurodegenerative disorders (Alzheimer's disease). SignalGene generates short-term revenues, through its GLP-based pharmacogenomics services and technology-based discovery collaborations, while pursuing its internal research and development programs for partnering with major pharmaceutical companies. The shares of SignalGene are listed on the Toronto Stock Exchange under the symbol SGI.
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements about technological development efforts and expectations, ArQule, Nanodesign, and SignalGene technologies and their respective strategies. The actual results may differ materially from those projected in the forward-looking statements due to numerous risks and uncertainties that exist in each company's operations, development efforts and the business environment, including without limitation: the ability to deliver their products to corporate collaborators; the progress of product research and development activities; the ability to enter into future collaborations with pharmaceutical and biotechnology companies; and the risks and uncertainties as more fully described in ArQule's Registration Statement on Form S-3 filed with the Securities and Exchange Commission on October 20, 2000, as amended. The forward-looking statements contained herein represent the judgement of ArQule, Nanodesign and SignalGene as of the date of this release. ArQule, Nanodesign and SignalGene disclaim any intent or obligation to update any forward-looking statement except to the extent required by law.
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