Asterand Reaches Milestone for Ono Drug Discovery (0030T)
November 30 2011 - 2:00AM
UK Regulatory
TIDMATD
RNS Number : 0030T
Asterand PLC
30 November 2011
For Immediate Release
Asterand's Subsidiary BioSeek Achieves A Research Milestone
In Drug Discovery Collaboration With Ono
SOUTH SAN FRANCISCO, CA, USA- November 30, 2011- 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 milestonehas been achieved in the multi-year
drug discovery collaboration with Ono Pharmaceutical Co., Ltd.,
("Ono"), where BioSeek is applying its proprietary BioMAP(R)
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(R) '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(R) 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(R)
profiles) that can be compared to a large number of reference
profiles in the BioMAP(R) Database. Assessment with BioMAP(R)
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.
# # #
Contacts:
Asterand plc
Jack Davis, Chairman and Interim Chief Tel: + 44 (0) 1763 211 600 / +
Executive Officer 1 (313) 263-0960
Alan Fishman, Interim Chief Financial As above
Officer
Buchanan Communications
Lisa Baderoon / Mark Court / Isabel Tel: +44 (0) 20 7466 5000
Podda
Daniel Stewart & Company plc
Antony Legge Tel: +44 (0) 20 7776 6550
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUKVNRAAAAUAA
Bioseek (LSE:ATD)
Historical Stock Chart
From Sep 2024 to Oct 2024
Bioseek (LSE:ATD)
Historical Stock Chart
From Oct 2023 to Oct 2024