Pharmagene PLC and Argenta Discovery Enter New Collaborative AlliancesArgenta to provide lead optimisation in migraine and IBS programmesRoyston (UK) and Harlow (UK) 22 May 2002 - Pharmagene plc (LSE:PGN) and Argenta Discovery Ltd jointly announced that they have entered into two new collaborations in connection with Pharmagene's R1 and R4 therapeutic programmes. In both collaborations, Pharmagene will work closely with Argenta's scientists to optimise its lead compounds through integrated medicinal chemistry, biochemical screening, and early ADME (Absorption, Distribution, Metabolism and Excretion) studies. Financial terms were not disclosed. The R4 migraine collaboration follows a successful lead identification project that began in July 2001. Using computer-aided drug design techniques combined with biochemical screening, Argenta identified a series of compounds that interact with Pharmagene's 7-TM receptor target. The new collaboration builds on this success and is aimed at developing a series of fully optimised candidate drugs. Pharmagene has already generated proprietary data indicating that antagonists at this receptor should prove efficacious in the treatment of migraine, and has a granted UK patent in this area (see Pharmagene's announcement dated 12 March 2001). In the irritable bowel syndrome (IBS) collaboration, Argenta will optimise a series of compounds already identified by Pharmagene as part of its R1 programme. Alastair Riddell, Pharmagene's CEO, said: "Our existing collaboration showed there was a very good fit with Argenta in developing hit and lead compounds to our proprietary targets as we continue to develop our Therapeutics business. Our scientists have worked closely together and the quality of the results is reflected in the decision to extend our original migraine programme and also work together on IBS." Commenting on the agreements, Argenta's CEO, Dr Anthony Baxter, said: "We were delighted with the success of our lead identification collaboration with Pharmagene and look forward to working with them to optimise the chemical lead series in both the migraine and IBS projects. One of Argenta's major aims is to develop long-term strategic relationships with key partners and the expansion of our work with Pharmagene is an excellent example of this approach." Notes to Editors:About Pharmagene plc Founded in 1996, Pharmagene is a human tissue-based business serving the pharmaceutical and biotechnology industries. The Company’s focus is to improve the efficiency of the drug discovery and development process. Pharmagene has three business offerings, Pharmagene Phase ZERO™, Pharmagene TargetEvaluator™ and Pharmagene Therapeutics, comprising Pharmagene Indication Switch™ and New Lead Discovery. Further information on Pharmagene can be found at www.pharmagene.com About Argenta Discovery Ltd Argenta Discovery Ltd provides a peer quality contract service to major pharmaceutical companies, converting hits and leads into validated patentable chemical lead series. The company also works actively on its own research projects and has an association with London’s Imperial College School of Medicine (Europe’s largest medical school), from which patentable lead series will be available for sale or licence. Argenta Discovery operates in new, state of the art laboratories in Harlow and is served by nearby London Stansted Airport. Its scientific skills include computer-aided drug design, medicinal and combinatorial chemistry, high throughput analytical chemistry, biochemical assay development, automated molecular and cellular screening and in vitro ADMET screening. For further information please see www.argentadiscovery.com or email info@argentadiscovery.com. For further information, please contact:Pharmagene plc Financial Dynamics Argenta Discovery Ltd HCC De Facto Group |
Argenta Discovery Limited is a company incorporated and registered in England with registered number 3671653 whose registered office and principal place of business is at 8/9 Spire Green Centre, Flex Meadow, Harlow, CM19 5TR, United Kingdom and whose VAT registration number is GB 848 2268 02.