Drug discovery company Pharmacopeia and healthcare business AstraZeneca have extended their research collaboration. The companies announced this week that they will shift their efforts from the generation of screening libraries to a drug discovery collaboration to identify promising small molecule lead compounds against an AstraZeneca drug target.
Under the terms of this agreement, Pharmacopeia will provide its molecule drug discovery knowledge to identify lead compounds against an AstraZeneca target. Pharmacopeia will receive funding for providing the research activities and will be entitled to receive additional payments upon the successful achievement of milestones and royalties on the commercialisation of any drugs emanating from this relationship.
"We are pleased to continue our relationship with AstraZeneca in another area," said Joseph A. Mollica, chairman, president and CEO of Pharmacopeia. "This new effort will utilise our multimillion compound sample collection, biological screening and medicinal chemistry expertise in working with AstraZeneca in a drug discovery collaboration."