Re Collaboration
15 Septembre 2003 - 9:01AM
UK Regulatory
RNS Number:7421P
BioFocus PLC
15 September 2003
For Immediate Release 15 September 2003
BIOFOCUS COMPLETES INITIAL TECHNOLOGY TRANSFER
IN AMGEN COLLABORATION
FIRST BENCHMARK IN ION CHANNEL DRUG DISCOVERY PROGRAM
Chesterford Research Park, UK, 15 September, 2003 - BioFocus plc (AIM: BIO), a
world leader in collaborative drug discovery, today announces that it has
successfully completed transfer of the first two ion channel assays in its
collaboration with Amgen, resulting in a cash payment to BioFocus.
BioFocus announced the drug discovery programme with Amgen against multiple ion
channel targets in January 2003. The modulation of ion channels is potentially
important in the treatment of a wide range of diseases including cardiovascular
and neurological disorders.
Under the terms of the collaboration, BioFocus provides Amgen with drug
discovery expertise in assay development, high throughput screening, medicinal
chemistry and molecular informatics. In return, BioFocus receives compensation
in the form of research fees and milestone payments upon achievement of certain
research, clinical and commercial events.
Commenting on this achievement, BioFocus' Chief Executive, Geoff McMillan, said:
"We are delighted that these initial assays have been successfully transferred
within the first six months of our project with Amgen. This is an important
indicator of our ability to deliver additional value working with a world-class
company."
About BioFocus
BioFocus is a leading drug discovery company working in partnership with major
pharmaceutical and biotechnology companies. Additionally it is developing a
portfolio of internal drug discovery programmes aimed at providing drug leads
for partnering. The company was founded in 1997 and is quoted on the
Alternative Investment Market of the London Stock Exchange. BioFocus works with
a wide range of global clients and in 2002 provided services and/or products to
22 leading pharmaceutical companies.
For further information:
BioFocus +44 (0)1799 533500
Geoff McMillan, Chief Executive
John Kamins, Vice President Business Development & Marketing
Buchanan Communications +44 (0)20 7466 5000
Mark Court/Rebecca Skye Dietrich
This information is provided by RNS
The company news service from the London Stock Exchange
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