CAMBRIDGE, U.K. and Sittingbourne, Kent, U.K., Oct. 7, 2002 (PRIMEZONE) -- BioFocus plc (BioFocus), the collaborative drug discovery company and Xention Discovery Ltd. (Xention), the specialist ion channel drug discovery company, today announced that they have entered into a two-year ion channel drug discovery programme. Through the collaboration the two companies aim to develop enhanced drug candidates which selectively interact with an ion channel target for the treatment of atrial fibrillation, the most common type of cardiac arrhythmia, which affects more than six million individuals worldwide.
Under the terms of the agreement, BioFocus will exclusively licence to Xention a range of compounds already identified by BioFocus as potential ion channel modulators. Xention will exploit it's unique AutoPatch(R) technology for further compound screening and BioFocus will provide ongoing medicinal and computational chemistry expertise for hit-to-lead optimisation. Xention will be responsible for the future development and commercialisation of drug molecules discovered through the collaboration. BioFocus will receive licence and technology access fees, ongoing research payments and will retain a royalty interest in successfully developed products.
"The BioFocus cardiovascular programme is well advanced and ideally suited to our AutoPatch(R) technology which allows the automated screening of molecules against ion channel targets. Through the joint application of Autopatch(R) and BioFocus' expertise in medicinal chemistry, we aim to fast track potential drug candidates towards the clinic," commented Tim Brears, Xention's Chief Executive.
Dr. David Stone, BioFocus' Chief Executive, said: "We are delighted to enter into this partnership with Xention and we look forward to making a valuable contribution to the collaboration and to the downstream rewards for both companies. It demonstrates the value of BioFocus' commitment to our ongoing research programmes in key biological target areas such as ion channels, GPCRs and kinases. We expect partnerships like this to become an important focus of our future activities."
About Xention Discovery
Xention Discovery is focused on the discovery and development of drugs which modulate ion channel targets to address a range of diseases including cardiovascular and neurological disorders. Xention was formed recently when it acquired the AutoPatch(R) technology from CeNeS Ltd. and raised 4 million pounds in a financing round led by MVM Limited. AutoPatch(R) is a proprietary, automated electrophysiology recording system that greatly enhances the throughput at which molecules can be tested against ion channels. It allows more molecules to be tested in a shorter time period than is possible using conventional technologies. For more details please visit www.xention.com
About BioFocus
BioFocus is a pioneering collaborative drug discovery company that applies its comprehensive range of medicinal chemistry expertise and biological screening capabilities to accelerate its partners' discovery programs. It is a growing and profitable company quoted on the Alternative Investment Market (AIM) of the London Stock Exchange and has approximately 190 staff located at three U.K. science centers near Cambridge and Sittingbourne. BioFocus works with a wide range of global biopharmaceutical companies including Axxima, Biovitrum, GlaxoSmithKline, Millennium, Daiichi, Pfizer, Roche and Teijin. For more details please visit www.biofocus.com.
Notes to editors:
Atrial Fibrillation
Atrial fibrillation is caused by irregular electrical signaling in the upper chamber of the heart and results in rapidly beating atria, which reduces normal blood flow and can lead to the formation of blood clots, which can migrate to the brain and result in stroke. The worldwide annual market for drugs to treat the condition is estimated to be worth in excess of $1 billion annually.
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