Terence S. Russell, Ph.D., President and CEO of Makoto, said: "We are very pleased to have the opportunity to work with Mercury and to apply Makoto's expertise in small molecule target identification to drug discovery in metabolic disease. Type-2 diabetes is a large and growing serious medical condition for which novel therapeutics are increasingly needed."
Neal C. Birnberg, Ph.D., Mercury Therapeutics' President and CEO, said: "By finding a development partner for the MT-39 program while continuing to develop direct AMPK activators in-house, this agreement with Makoto complements Mercury's internal AMPK activator development strategy. Furthermore, by leveraging our AMPK small molecule discovery platform to identify both direct and indirect AMPK activators, this agreement increases the number of potential revenue generating opportunities for our shareholders."
About Mercury Therapeutics, Inc. (http://www.mtipharm.com)
MTI was launched in 2001, and has an exclusive license to a patent from
Dartmouth College and St. Vincent's Institute for Biomedical Research in
Melbourne, Australia for AMP activated protein kinase (AMPK). In June 2001,
MTI launched its R&D operations following execution of a sub-license and
collaboration agreement with Aventis to develop AMPK activators to treat
Type-2 diabetes and obesity. In June 2004, Aventis was acquired by Sanofi,
and the AMPK collaboration with MTI ended. In October, 2004: MTI secured
external financing from XL TechGroup, Inc. In Q4 2005, MTI demonstrated its
first preclinical proof-of-principle of active compounds in a glucose
tolerance test in mice. In Q4 2006, MTI implemented a chemical design and
synthesis program which led to the submission of a patent application in
February 2008 cla
|SOURCE Mercury Therapeutics Inc.|
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