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Nuevolution Announces Drug Discovery Alliance With Lexicon Pharmaceuticals
Date:6/10/2008

drug screening at an unprecedented scale," said Alex Gouliaev, CEO of Nuevolution A/S. "We believe this generates high quality hits and leads far more rapidly and reliably than current ultra high throughput methods. Combining our platform with Lexicon's highly validated target portfolio represents an exceptional drug discovery opportunity and we very much look forward to bringing together Lexicon's expertise in biology and ours in chemistry, creating a synergistic biotech alliance."

"This important alliance is designed to accelerate Lexicon's ability to move from novel knockout validated targets to drug candidates as we continue to build our pipeline of innovative products," said Brian Zambrowicz, Ph.D., executive vice president and chief scientific officer of Lexicon.

About Nuevolution

Nuevolution is a leading drug discovery company founded in 2001 and based in Copenhagen, Denmark. The company has developed Chemetics(R), a unique, patent protected hybrid of proven wet chemistry and molecular biology which represents the ultimate fragment based drug discovery technology. Chemetics(R) enables rapid synthesis and DNA-tagging of hundreds of millions of chemically diverse drug-like small molecule compounds and the efficient screening of these, facilitating the identification of potent drug leads at unprecedented quantity, quality and speed compared to existing drug discovery technologies.

Nuevolution partners its technology with pharmaceutical and biotechnology companies, and is also developing an internal pipeline by applying Chemetics(R) to validated cancer and cardiovascular targets. Nuevolution has demonstrated the power of Chemetics(R) by identifying highly potent and drug like novel ligands with the potential to address major unmet medical needs across a range of therapeutic areas and target classes.

Nuevolution is a privately owned company and has raised EUR 37 million in financing from key Scandinavian investors, including SEB
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SOURCE Nuevolution A/S
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