Kalypsys Enters Drug Discovery and Development Collaboration With CV Therapeutics
November 17 2003 - 8:01AM
PR Newswire (US)
Kalypsys Enters Drug Discovery and Development Collaboration With
CV Therapeutics LA JOLLA, Calif., Nov. 17 /PRNewswire/ -- Kalypsys,
Inc., announced today a collaboration with CV Therapeutics, Inc. to
discover, develop and commercialize novel treatments for
cardiovascular disease. The collaboration combines Kalypsys'
proprietary lead discovery, medicinal chemistry and informatics
technologies with CV Therapeutics' proven strengths in target
validation, pre-clinical pharmacology and clinical development of
cardiovascular drug candidates. CV Therapeutics will contribute
proprietary assays and lead compounds to initiate the
collaboration. Kalypsys will develop high throughput screens, run
them against its proprietary compound collection, and then use its
medicinal chemistry and informatics capabilities to optimize CV
Therapeutics' existing leads and new leads identified at Kalypsys.
CV Therapeutics will later carry out pharmacological studies,
pre-clinical development and human trials, as appropriate. Under
the terms of the agreement, Kalypsys will receive an upfront
payment, research funding, equity investments and milestone
payments, and it will have the option of co-funding and
co-developing all drug candidates that result from the partnership.
If Kalypsys has elected not to co-fund or has withdrawn its
co-funding, Kalypsys also has the option to later opt back in to
co-funding a program. Dr. Louis Lange, Chief Executive Officer at
CV Therapeutics said, "Kalypsys' highly efficient lead discovery
and optimization capabilities should allow us to rapidly obtain
top-priority lead compounds against our drug targets. We believe
this collaboration will be a source of important new drug
candidates which may improve the likelihood of clinical success."
"CV Therapeutics is an acknowledged leader in the development of
potential new therapies for cardiovascular disease and has
demonstrated great skill in moving drug candidates through the
clinic," said Dr. Kevin Lustig, Kalypsys co-founder and Director,
Lead Discovery. "We are thrilled to join with them to develop
important new medicines for cardiovascular disease." "We feel the
most efficient route to creating a sustainable pipeline of drug
candidates is through a combination of internal development and
external collaborations, both of which we are actively pursuing,"
said Dr. John McKearn, Chief Scientific Officer at Kalypsys. "This
partnership offers us a great opportunity to work in the
cardiovascular arena with a proven leader and share ownership in
the resulting commercial products." About Kalypsys Kalypsys is a
biopharmaceutical company that uses advanced automation
technologies to evaluate drug candidates in cellular models of
disease and then optimize the safety and efficacy of select
candidates. Through the use of its technology, Kalypsys is able to
make better decisions earlier in the discovery process. Kalypsys is
developing drug leads in multiple therapeutic areas including
cancer, inflammation, metabolic diseases and cardiovascular
disorders. In addition to carrying out drug discovery programs
based on internal research, Kalypsys seeks to enhance partners'
discovery programs through technology-transfer or collaborative
relationships. Kalypsys completed a $43 million series A financing
round in April of 2002, led by the Sprout Group, co-led by
Tavistock Life Sciences and included CMEA Ventures, Lombard Odier
Darier Hentsch & Cie, 5AM Ventures, Novartis Bioventure Fund,
Aravis Ventures, Alejandro Zaffaroni and the Singapore E.D.B. For
more information on Kalypsys, please visit http://www.kalypsys.com/
. DATASOURCE: Kalypsys, Inc. CONTACT: Pratik Shah, Ph.D. of
Kalypsys, +1-858-754-3333; or Liz Thompson, Ph.D. of Atkins +
Associates, +1-858-527-3492, for Kalypsys Web site:
http://www.kalypsys.com/
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