Beactica announces new fragment-based drug discovery platform together with IOTA Pharmaceuticals

24 April 2008

Uppsala, Sweden, April 24th, 2008

Two leading companies in the area of fragment-based drug discovery (FBDD) today announced a new commercial alliance. IOTA Pharmaceuticals Ltd, based in Cambridge, UK, and Beactica AB, based in Uppsala, Sweden, will join forces to deploy a proprietary FBDD-based lead discovery and optimization platform.

The IOTA-Beactica platform couples comprehensive, site-directed FBDD libraries to state-of-the-art fragment and lead screening using surface plasmon resonance (SPR) biosensor technology, enabling the rapid progression of new discovery programs from concept to optimized lead.

Based on rapid determination of ligand-target interaction information, and using a unique combination of fragment-based drug screening and medicinal chemistry-led design approaches applicable to a wide range of new targets, the platform will initially focus on the development of new classes of kinase inhibitors. The reagents, tools and technologies developed by the two companies will be commercialised through drug discovery partnerships with pharmaceutical companies active in the kinase area.

Dr Per Källblad, CEO of Beactica, said "We are delighted to work with IOTA to expand our existing drug discovery platform. The combination of IOTA’s proprietary FBDD engine with Beactica’s SPR screening technology will be an excellent way to pursue the discovery and optimization of new kinase inhibitors.”

Dr David Bailey, heading IOTA, commented "Fragment-based drug discovery is a fast, efficient and productive route to NCE discovery. Our combined technologies offer a comprehensive lead discovery solution to our pharma partners.”

For additional information on the alliance, please contact Dr David Bailey, CEO IOTA +44 1223 421430, or Dr Per Källblad, CEO Beactica, +46 18 560880

About IOTA

IOTA Pharmaceuticals provides FBDD-based molecular design, compound screening and lead discovery services to its partners in the pharmaceutical industry. For more information about IOTA, please visitwww.iotapharma.com.

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