Asterand’s Subsidiary BioSeek Achieves A Research Milestone In Drug Discovery Collaboration With Ono
01 December 2011 - 3:30AM
Business Wire
BioSeek, LLC, a subsidiary of Asterand plc (LSE: ATD), a pioneer
in the application of predictive human biology to drug discovery,
announced today that the first research milestone has been achieved
in the multi-year drug discovery collaboration with Ono
Pharmaceutical Co., Ltd., (“Ono”), where BioSeek is applying its
proprietary BioMAP® platform to perform phenotypic screening, hit
identification, lead optimization and clinical candidate selection
on a target selected by Ono. Under the three-year agreement,
BioSeek is receiving research funding and is eligible to receive
success payments based on the research-phase progress of this
collaboration and further milestone payments based on the clinical
development-phase progress of a drug candidate discovered under
this collaboration. Ono will have worldwide rights to develop and
sell all pharmaceutical products discovered through the
collaboration.
Jack Davis, Chairman and Interim Chief Executive Officer of
Asterand commented:
“We highly value our relationship with Ono since it enables us
to take full advantage of BioMAP®’s power to discover and develop
innovative new drug candidates. We are looking forward to the
successful continuation and further achievements of the
collaboration.”
BioMAP® Systems are primary cell-based models of human disease
biology, designed to replicate the intricate cell and pathway
interactions as they are observed in human pharmacology and
toxicology. Depending on their mechanism of action, compounds
induce specific patterns of changes in these systems (BioMAP®
profiles) that can be compared to a large number of reference
profiles in the BioMAP® Database. Assessment with BioMAP® provides
early insight into human pharmacological and toxicological
properties of compounds, including on-and off-target effects, dose
responses, and the discrimination of closely related compounds.
About Asterand
Asterand plc is a leading supplier of high quality human tissue
and tissue-based services. Our comprehensive approach to human
tissue and research services offers pharmaceutical, biotech and
diagnostic companies the unique opportunity to have one company
meet all of their human biomaterial needs along the continuum of
drug discovery and development. Our mission is to accelerate target
discovery and compound validation and enable pharmaceutical and
biotechnology companies to take safer and more effective drugs into
the market. For more information about Asterand or BioSeek, go to
www.asterand.com.
About Ono Pharmaceutical Co., Ltd.
Ono Pharmaceutical Co., Ltd. is a R&D-oriented
pharmaceutical company specialized in creating innovative medicines
in specific areas and is headquartered in Osaka, Japan. For more
information about Ono, visit the company’s website at
www.ono.co.jp.
Bioseek (LSE:ATD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Bioseek (LSE:ATD)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Bioseek (London Stock Exchange): 0 recent articles
More Asterand plc News Articles