Closing of Probiodrug-Prosidion Transaction and Changes in Management & Board
Probiodrug Expands Scientific Advisory Board And Appoints Prof. Dr. Thomas Bayer As New Member
Halle (Saale), Germany // Probiodrug AG
Morphochem AG and Probiodrug AG today announced that they have entered into a research and collaboration for the development of novel small molecule therapeutics, initially focused on the inhibition of the serine protease dipeptidyl peptidase IV (DP IV) for the treatment of Anxiety and Depression.
Under the multi-year program, Morphochem will apply its evolutionary drug discovery approach using versatile chemical reactions and its proprietary software – MolMind®, to identify compounds from structurally novel compound classes with a profile promising orally bioavailable active drugs. Probiodrug will apply its in vivo and in vitro models to profile the compounds.
Financial terms of the collaboration were not disclosed. Both companies will retain an ownership interest in intellectual property developed under the collaboration. Terms for commercialization of any resulting compounds are already defined in the written agreement between the companies but were not disclosed.
“The ability to use Probiodrug’s vast knowledge and established in vitro and in vivo models for DP IV will be an excellent basis for fast and high-quality feedback for Morphochem’s evolutionary discovery engine. We are very excited about this opportunity to working with Probiodrug, as they have significant experience of this target,” said Dr Sijmen de Vries, Morphochem’s Chief Executive Officer.
Commented Dr Hans-Ulrich Demuth, Chief Executive Officer of Probiodrug, “Morphochem is an excellent partner for identifying new small molecules with interesting properties. By combining our respective technologies, this collaboration will maximize the synergies between our biological and chemical areas of expertise and therefore the effectiveness and efficiency of the drug discovery process.”
About Morphochem AG
Morphochem AG has developed a unique and highly integrated fast chemical genomics drug discovery platform that it has been applying to build its pipeline. The current lead products; MCM 17 a novel oral anti-thrombotic (Factor Xa inhibitor) and MCB3837 a unique OxaquinÒ Dual Action IV Hospital Antibiotic are planned to enter Clinical Trials during the second half of 2005. In addition, as the fast Discovery Engine enables “Fast Follower” development projects on “hot targets”, the Morphochem pipeline also contains a number of original lead- stage projects against various targets.
For more information please visit www.morphochem.com.
Probiodrug AG is a drug discovery company with a focus on distinct proteins as innovative drug targets. The company endeavors to identify new orally active compounds for selectively modifying enzymatic activity in order to derive therapeutic effects in gastrointestinal, neuronal and autoimmune disorders. Probiodrug actively pursues patent protection for its lead and back-up compounds as well as for fundamental treatment technologies in various indications.
Hans-Ulrich Demuth, Ph.D.
Chief Executive Officer
D-06120 Halle (Saale)
Tel.: +49 345 55599-00
Fax: +49 345 55599-01