LONDON, May 22, 2001 (PRIMEZONE) - Noonan/Russo Ltd.
Cambridge Drug Discovery Limited (Cambridge Drug Discovery) and Millennium Pharmaceuticals, Inc. (Nasdaq:MLNM) today announced that they have entered into a two-year collaborative agreement to accelerate Millennium's pre-clinical research programs derived from a broad range of novel genomic targets. This new alliance builds on the successful completion of previous discovery projects. Millennium will have access to Cambridge Drug Discovery's molecular pharmacology expertise, customized assay development technologies as well as the Company's fully automated high-throughput screening capabilities. The alliance will involve the development of a substantial number of new proprietary assays and therapeutically relevant secondary assays.
"This is an important new collaboration for us in many exciting new areas of novel biology that will allow us to work with Millennium on a wide range of proprietary drug targets and assist them in the identification and development of novel chemical compounds," commented Dr. Mark Treherne, Chief Executive Officer of Cambridge Drug Discovery. "We are delighted that Millennium has decided to build on our previous collaborations and are pleased to be able to work alongside such a prominent biopharmaceutical company."
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