Pharmacopeia Extends and Expands Research Collaboration With Celgene
PRINCETON, N.J., March 23 /PRNewswire-FirstCall/ -- Pharmacopeia, Inc. today
announced that it has extended and expanded its research collaboration with
Celgene Corporation, following on from the successful collaboration between the
corporations that resulted in a milestone payment to Pharmacopeia in 2003. In
the new collaboration, the companies will work together to identify promising
small molecule lead compounds suitable forfurther development against a range
of critical targets identified by Celgene.
Under the terms of this agreement, Pharmacopeia will utilize its proprietary
collection of over 7.5 million drug-like small molecules, its considerable
expertise in assay development and miniaturization and its high- throughput and
ultra-high-throughput screening capabilities to identify leads against selected
Celgene targets. Pharmacopeia will receive funding for providing these research
activities and will be entitled to receive additional payments upon the
successful achievement of milestones, and royalties upon the commercialization
of any drugs resulting from the collaboration.
"We are delighted that an organization of the caliber of Celgene has chosen to
extend and expand its collaboration with Pharmacopeia," said Stephen A. Spearman, Ph.D., Chief Operating Officer of Pharmacopeia. "We believe their
further commitment is testament to the value Pharmacopeia offers our partners
through our collaborative discovery model by applying both our expertise and our
unique drug discovery assets." Pharmacopeia (http://www.pharmacopeia.com/) is a leader in enabling science and
technology that accelerates and improves the drug discovery and chemical
development processes. Pharmacopeia's Drug Discovery business integrates
proprietary small molecule combinatorial and medicinal chemistry, high-
throughput screening, in-vitro pharmacology, computational methods and
informatics to discover and optimize lead compounds. Pharmacopeia's software
subsidiary, Accelrys, develops and commercializes molecular modeling and
simulation software for the life sciences and materials research markets,
cheminformatics and decision support systems, and bioinformatics tools including
genesequence analysis. Accelrys consulting services provides expert assistance
in the configuration, implementation and integration of a wide variety of
software solutions to enable superior research and discovery. Pharmacopeia is
headquartered in Princeton, New Jersey.
When used anywhere in this document, the words "expects," "believes,"
"anticipates," "estimates" and similar expressions are intended to identify
forward-looking statements. Forward-looking statements herein may include
statements addressing future financial and operating results of Pharmacopeia. Pharmacopeia has based these forward-looking statements on its current
expectations about future events. Such statements are subject to risks and
uncertainties including, but not limited to, the successful implementation of
Pharmacopeia's strategic plans, the acceptance of new products, the obsolescence
of existing products, the resolution of existing and potential future patent
issues, additional competition, changes in economic conditions, and other risks
described in documents Pharmacopeia has filed with the Securities and Exchange
Commission, including its most recent report on Form 10-K and subsequent reports
on Form 10-Q. All forward-looking statements in this document are qualified
entirely by the cautionary statements included in this document and such
filings. These risks and uncertainties could cause actual results to differ
materially from results expressed or implied by forward-looking statements
contained in this document. These forward-looking statements speak only as of
the date of this document. Pharmacopeia disclaims any undertaking to publicly
update or revise any forward-looking statements contained herein to reflect any
change in its expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based.
Contacts:
Simon M. Tomlinson, Ph.D. Senior Vice President, Business Development
Pharmacopeia Drug Discovery, Inc. (609) 452-3600
DATASOURCE: Pharmacopeia, Inc.
CONTACT: Simon M. Tomlinson, Ph.D., Senior Vice President, Business Development, Pharmacopeia Drug Discovery, Inc., +1-609-452-3600, Web site: http://www.pharmacopeia.com/
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