Navigation Links
Nuevolution Announces Receipt of Milestone Payment From Merck & Co., Inc.
Date:11/2/2009

COPENHAGEN, November 2 /PRNewswire/ -- Nuevolution A/S today announced that it has received a milestone payment derived from its collaboration with Merck & Co. Inc., Whitehouse Station, NJ.

The payment was triggered following identification of several candidate molecules that conformed to the prespecified criteria established under the terms of the original agreement. These include several accepted drug-like characteristics and nanomolar potency.

In its collaboration with Merck, Nuevolution is applying its proprietary Chemetics(R) technology to identify novel small molecule leads against drug targets of interest to Merck. Nuevolution has so far screened more than one billion small molecules against the first of the targets selected under the collaboration. The candidate molecules so far identified have been shown to disrupt an undisclosed, therapeutically relevant, protein-protein interaction in vitro.

"We are excited about the results that have been obtained thus far in the collaboration with Merck. Considering the complexity of the target, we believe that the results demonstrate the value of having access to hundreds of millions to billions of small molecules for screening," said Alex Gouliaev, CEO of Nuevolution A/S. "It is a great pleasure working with Merck's first class team of scientists, and we are looking forward to a continued fruitful outcome of the collaboration."

Merck and Nuevolution entered into a collaboration in 2008. In April 2009, Nuevolution announced an expansion to the second phase of the collaboration.

About Nuevolution

Nuevolution is a leading small molecule lead 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.

In June 2009, Nuevolutions library collection exceeded 1 billion small molecule compounds for screening.

Nuevolution partners its technology with pharmaceutical and biotechnology companies. In 2008, Nuevolution entered into collaborations with Merck & Co. and Lexicon Pharmaceuticals. The collaboration with Merck & Co. was expanded in April 2009. During summer 2009, Nuevolution has announced agreements with Novartis Pharma and GlaxoSmithKline.

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 Venture, Sunstone Capital, SLS Invest and Novo A/S. For more information about Nuevolution A/S, please visit the company's website http://www.nuevolution.com

For further details about Nuevolution and the Chemetics(R) technology please contact:

    Nuevolution A/S
    Alex Haahr Gouliaev, CEO
    Phone: +45-7020-0987
    ahg@nuevolution.com


SOURCE Nuevolution A/S


'/>"/>
SOURCE Nuevolution A/S
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
2. EDAP Announces Launch of Clinical Study Combining HIFU and Chemotherapy for Localized Aggressive High Risk Prostate Cancer
3. Cephalon Announces Positive Results from a Pivotal Study of FENTORA in Opioid-tolerant Patients with Non-cancer Breakthrough Pain
4. ADVENTRX Announces Fast Track Designation Granted By the FDA For CoFactor For the Treatment of Metastatic Colorectal Cancer
5. DOV Pharmaceutical, Inc. Announces Successful Phase Ib Results for DOV 21,947
6. Phosphagenics Announces Positive Phase 1b Transdermal Insulin Clinical Trial Results
7. Xenomics Announces Implementation of its First Diagnostic Test for Acute Myeloid Leukemia Into Clinical Practice
8. Emisphere Technologies, Inc. Announces 2007 Second Quarter Financial Results
9. Amicus Therapeutics Announces Second Quarter 2007 Financial Results
10. Genta Incorporated Announces Second Quarter 2007 Financial Results and Corporate Highlights
11. MicroDose Announces Positive Results From the QDose Inhaled Insulin Glucose Clamp Study
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/27/2017)... STUTTGART, Germany , March 27, 2017 /PRNewswire/ ... provide over 7,000 attendees and more than 600 ... learn, and discover opportunities and solutions that will ... - 6 April 2017 at the Messe Stuttgart, ... is the preeminent medical technology platform showcasing the ...
(Date:3/27/2017)... , March 27, 2017  A new survey ... found that Medicare,s Competitive Bidding Program (CBP) significantly reduced ... supplies. The lack of choice forces beneficiaries to switch ... dire health consequences. AADE,s survey is ... AADE and others pointing out the inherent problems with ...
(Date:3/27/2017)... NEW YORK , March 27, 2017 FinancialBuzz.com ... According to a ... North America , grew 34 percent to $6.7 billion ... growth rate of (CAGR) over the next five years, from $6.7 billion ... portion of Americans that will be able to purchase cannabis without a ...
Breaking Medicine Technology:
(Date:3/28/2017)... Columbus, Ohio (PRWEB) , ... March 28, 2017 , ... ... City was selected as one of few medical professionals in the country to sit ... As Founder of Juvly Aesthetics, in just 2 years Dr. Harper helped propel the ...
(Date:3/28/2017)... CA (PRWEB) , ... March 28, 2017 , ... ... Carson Liu of SkyLex Advanced Surgical, Inc. is thrilled to offer the recently ... balloon procedure, and this procedure adds to SkyLex Advanced Surgical’s already comprehensive ...
(Date:3/28/2017)... GA (PRWEB) , ... March 28, 2017 , ... With ... to Marshallville, Georgia, in early March. , The seed processing plant opened in Marshallville ... location since 2016. The new office allows opportunity for transition of Patten Seed operations ...
(Date:3/28/2017)... ... March 28, 2017 , ... Thank you to all who ... 8-10. , This event was exclusive to providers and offered an opportunity to ... took place at the Manchester Grand Hyatt where attendees gathered for a lively discussion ...
(Date:3/28/2017)... ... March 28, 2017 , ... Bacteria and fungi are probably not the first ingredients that ... fact, including the right microorganisms in your diet can actually improve health outcomes. And the ... This is the topic of a new peer-reviewed paper led by Maria ...
Breaking Medicine News(10 mins):