Uppsala, Sweden, December 6th, 2011
Beactica, the leading Swedish fragment-based drug discovery company, today announced that it has entered into an agreement with Almac Discovery Ltd., an independent member of the Almac Group Ltd. Under the agreement, Beactica will use its proprietary drug discovery platform to identify high-quality fragment hits against a number of undisclosed targets of therapeutic interest to Almac Discovery.
"We are proud that Almac Discovery has selected Beactica’s platform to identify high-quality medicinal chemistry starting points for a number of their prioritised programmes” said Beactica’s CEO, Dr Per Källblad. "Our team looks forward to supporting them in their discovery of novel and innovative treatments for cancer”.
Prof Tim Harrison, VP Medicinal Chemistry at Almac Discovery, said: "By collaborating with first-class companies, Almac Discovery utilises strategic outsourcing to complement in-house expertise. We have been impressed with Beactica’s expertise and capabilities in SPR biosensor-based drug discovery and are looking forward to a fruitful collaboration on these important targets. We plan to take projects to clinical proof of concept (or earlier) before out-licensing or partnering for further development”.
Financial terms of the agreement were not disclosed.
For additional information please contact Dr Per Källblad, CEO, Beactica, +46 18 56 08 80 or Dr Robert Grundy, Director of Commercial Development and Licensing, Almac Discovery (email@example.com; +44 28 38 33 22 00).
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