Brussels, Belgium (PRWEB) September 1, 2010
Euroscreen SA, a world leader in GPCR deorphanization, today announced that it was successful in deorphanizing a GPCR target in its research collaboration with Novartis.
Under the terms of the collaboration, Euroscreen has received an upfront license payment. Financial terms of the payment were not disclosed, but Euroscreen is eligible to receive milestone payments as Novartis advances drug development efforts directed to the GPCR target.
"We are very pleased that Novartis decided to work with Euroscreen on certain, selected targets. This is only a part of the progress we have made with Novartis for GPCR deorphanization since completing our initial agreement in 2006," said Dr. Jean Combalbert, the CEO of Euroscreen. "This type of collaboration aligns well with Euroscreen's strategy to partner its GPCR expertise while pursuing its own GPCR drug discovery programs."
For further information, please contact:
Tel: +32 71 348 500
Jean Combalbert, Ph.D.
Chief Executive Officer
Al Gray, Ph.D.
Director, Business Development
About Euroscreen S.A.
Euroscreen is a preclinical-stage biopharmaceutical company focusing on the discovery, development and partnering of small molecule drugs for various diseases with unmet needs. Euroscreen's has a preclinical pipeline of compounds targeting G protein-coupled receptors (GPCRs) using over 15 years of experience in research and commercialization of this critical class of drug targets. The Company's top programs are GPR43 agonists for applications in diabetes, dyslipidemia and inflammation and NK3 antagonists for GnRH modulation and CNS disease applications. The Company is also advancing several other early, preclinical GPCR programs for targets such as GPR3, GPR35, GPR131 and Chemerin receptor.
The Company has a GPCR patent portfolio for licensing to biopharmaceutical companies which address targets such as CCR5, Chemerin receptor, GPR43, nociceptin/ORL1, FPRL2, GPR7/8, purinergic receptors (P2Y4, P2Y11 and P2Y13) and SHIP2 for type II diabetes.
Euroscreen pursues a dual platform strategy of combining its drug discovery business with its products and services business unit, Euroscreen FAST, which serves biopharmaceutical companies around the world. The Company has ongoing research and licensing partnerships with AstraZeneca, Boehringer Ingelheim, BMS Company, Cephalon, Grunenthal, HGS, Monogram Biosciences, Novartis and Pfizer.
Euroscreen is a privately held company based in Brussels, Belgium. (http://www.euroscreen.com)
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