EMERYVILLE, Calif., April 11 /PRNewswire/ -- KineMed, Inc., a pathway-based drug discovery and development company, announced today that it has signed an exclusive agreement with Forbes Medi-Tech Inc. (NASDAQ:FMTI) (TSX: FMI) to discover non-cardiovascular indications for an undisclosed compound in the Forbes library of small molecule compounds.
Under the terms of the agreement, KineMed will screen the Forbes compound using KineMed's proprietary in vivo KineMarker(TM) assays. KineMed and Forbes will have the option to pursue development of the compound in any discovered indications.
"We are excited to collaborate with Forbes and expect to begin evaluating additional therapeutic activity this quarter," said David Fineman, President and CEO of KineMed. "Our goal is to identify potential applications that can address large markets with substantial unmet medical needs. This collaboration represents KineMed's continued progress in the application of our KineMarker platform to new indications discovery." About KineMed, Inc.
KineMed, Inc. is a pathway-based drug discovery and development company employing its proprietary biomarker technology (AquaTag(TM) and KineMarker(TM)) to measure the real-time activity of drugs in whole body systems. KineMed is developing therapeutics both on its own and with pharma collaborators, efficiently translating compounds into drugs with a desired biological effect on validated disease pathways. KineMed's technology expedites the drug development process and has demonstrated results in metabolic disorders, neurodegeneration, diseases of inflammation and cancer, among other conditions. For further information about KineMed, please visit: http://www.kinemed.com/ About Forbes Medi-Tech Inc.
Forbes Medi-Tech Inc. is a life sciences company dedicated to the research, development and commercialization of innovative products for the prevention and treatment of cardiovascular disease. Our vision is to develop and market products along a treatment continuum that cardiovascular disease consumers, healthcare professionals and specialized cardiovascular disease research and healthcare institutions will identify, recommend and seek. Our business strategy is to develop and commercialize proprietary compounds to address the unmet needs of patients within the cardiovascular disease market. For further information about Forbes Medi-Tech Inc., please visit: http://www.forbesmedi.com/ DATASOURCE: KineMed, Inc.
CONTACT: Brent Vaughan, Chief Business Officer of KineMed, Inc., +1-510-655-6525, ext. 110; or Media: Justin Jackson of Burns McClellan, , or Investors: John Cummings, , both of Burns McClellan, +1-212-213-0006, both for KineMed, Inc.
Web site: http://www.kinemed.com/ http://www.forbesmedi.com/
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