HUDDINGE, Sweden, Dec. 13, 2002 (PRIMEZONE) -- Medivir and Paradigm Therapeutics Ltd (Cambridge, U.K.) have entered a broad-based, 3-year research collaboration to identify novel protease drug targets and discover protease inhibitor drugs.
The collaboration will combine Medivir's expertise and technologies in protease inhibitor drug discovery, which includes proprietary screening methods and extensive protease inhibitor compound libraries, with Paradigm's bioinformatics, functional biology and drug target validation technologies. Together the partners will identify and validate up to six novel proteases as potential drug targets, and develop small-molecule protease inhibitor drugs. The alliance will focus on major human diseases consistent with Medivir's therapeutic interests. Drug products resulting from the partnership will be commercialised through either out- licensing or product sales.
"This collaboration further broadens Medivir's protease inhibitor research pipeline, which already includes a number of well-established protease inhibitor programs," said Jonas Frick, Medivir's CEO. "Paradigm's expertise in novel target validation neatly complements Medivir's protease inhibitor drug discovery know-how and technologies."
"Paradigm has established a powerful biological platform to define the potential clinical utility of large numbers of novel human drugable gene targets and is now ideally positioned to start the development of novel drugs to these targets," said Dr Richard Goodfellow, Commercial Director at Paradigm. "Proteases are increasingly recognized as important starting points for the development of new and effective drugs. We are therefore delighted to have forged an alliance with Medivir to exploit the potential for generating small-molecule drugs to Paradigm's novel protease targets."
The Medivir Group
Medivir is an innovative and specialized research company active in the pharmaceuticals sphere, located in Cambridge, U.K., and Huddinge, Sweden. Medivir's research focuses on the development of new pharmaceutical compounds as inhibitors of target enzymes with protease or polymerase activity.
The group comprises Medivir AB, the subsidiaries Medivir UK Ltd and CCS AB, plus second-tier subsidiaries CCS (U.K.) Ltd and Nordic Care Sweden AB. Medivir has been listed on the Stockholm Stock Exchange since 1996.
The research portfolio includes projects against HIV, jaundice, shingles, cold sores, osteoporosis, rheumatoid arthritis, asthma, multiple sclerosis and organ/graft rejection. Medivir has four projects in clinical development. Of these, two are moving towards Phase III trials after having completed Phase II trials. One is in Phase I and one is in Phase II. Medivir's pre-clinical research encompasses a number of projects, of which one is on its way towards and two are in the lead optimization phase and one is in the late pre-clinical development stage. A further ten activities are in the explorative stage.
For more information about Medivir, visit the company's web site at www.medivir.com
Paradigm Therapeutics Ltd
The race to define the therapeutic utility of the thousands of uncharacterised human proteins is the new hallmark of modern drug discovery. Unlocking the precise physiological function of these proteins is a vital prerequisite of rational drug development.
Paradigm, a privately held company that recently announced the successful completion of a second round of equity funding totaling 12 million pounds, has established a powerful genetics based platform that is generating detailed information and intellectual property on the physiological role, and hence the potential therapeutic utility and value of novel targets identified from within the human genome. Over 700 potential drugable targets have already been identified, of which 100 of the most exciting are well advanced within its biological validation program. Paradigm has already characterised targets that represent novel therapeutic points of intervention in key disease areas. Paradigm's commercial strategy is to develop both monoclonal and small molecule drugs to these targets in partnership with other drug development companies. The company has already formed a broad-based collaboration with Genmab for the development of therapeutic antibodies.
For more information visit the Paradigm web site: http://www.paradigm- therapeutics.co.uk.
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