Corporate Social Responsibility | Business Wire | PR NewsWire | Marketwire | Realwire | ACN/JCN newswire | 247pressrelease | PRWeb

Nuevolution Announces Receipt of Milestone Payment From Merck & Co., Inc.

Posted : Mon, 02 Nov 2009 09:51:13 GMT
Author : Nuevolution A/S
Category : Press Release
News Alerts by Email ( click here )
News | Home
COPENHAGEN, November 2 Nuevolution-A/S
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

Copyright © 2008 PR Newswire. All rights reserved.

Share/Save/Bookmark

Article : Nuevolution Announces Receipt of Milestone Payment From Merck & Co., Inc.
Print this article
Share this article

Stay Updated

News gadget on your Google homepage
Subscribe to a news feed in Google Reader



Related News

Online Launch of New Designer Brand, Dara Ford. Fashion for Women
A new brand has arrived on the womens fashion scene - a collection of elegant dresses and tailored pieces with a modern twist./I/P P(PRWeb UK) November 24, 2009 -- Designed for women of all ages and offered in sizes 8 – 18 the Dara Ford collection will appeal to women with busy li...

'Fivefingers Sports Shoe' News from UK Performance Clothing Supplier Baselayer
Sergey Brin’s shoes steal the show at the new launch of the Google Chrome operating system. The co-founder of Google has stated that he has become extremely attached to his Vibram Fivefingers KSO./I/P P(PRWEB) November 24, 2009 -- Sergey Brin’s shoes steal the show at the ne...

Corizon and Semafone enter Technology Partnership
Delivering fully integrated, PCI compliant secure voice transactions to contact centres /I/P P(PRWEB) November 24, 2009 -- a href= http://www.corizon.com onclick= linkClick( this.href ); target= _blank title= Corizon Home Page Corizon/a, the Enterprise Mashup Company and Semafon...

Endsleigh Travel Insurance Reveals a Hidden UK Gem
It might not be the top tourist destination in the UK, but do not be fooled, it is definitely not one to be missed./I/P P(PRWeb UK) November 24, 2009 -- Snowdonia sounds like a mythical land, a land full of intrigue and unimaginable beauty, and truth be told it is. Endsleigh a href= ht...

Campaign Deplores Gov. Paterson's Penny Wise/Pound Foolish Decision to Cut Funding for New York State's Nationally Acclaimed Tobacco Prevention Program
WASHINGTON, Nov. 24 /PRNewswire-USNewswire/ -- The following is a statement by Matthew L. Myers, President, Campaign for Tobacco-Free Kids: (Logo: http://www.newscom.com/cgi-bin/prnh/20080918/CFTFKLOGO) ...

Wordsmith Media, Inc. Announces National Circulation in Barnes & Noble and Major Retail Stores
BEVERLY HILLS, CA -- 11/24/09 -- Wordsmith Media, Inc. today announced the confirmation from its distributor that Wordsmith's award-winning, Sacred History Magazine will appear nationally on shelves in major bookstores and retail outlets before the..

Capmark Financial Group Inc. Receives U.S. Bankruptcy Court Approval to Complete Sale of its North American Servicing and Mortgage Banking Businesses
HORSHAM, Pa. - Capmark Financial Group Inc. (Capmark) today received approval from the U.S. Bankruptcy Court for the District of Delaware to complete the sale of its North American servicing and mortgage banking businesses to Berkadia Commercial Mortgage LLC (Berkadia) pursuant to the previo

Have your Say
Name
Email
Subject
Your Comment

Enter Verification code
 
  

 
Follow The Earth Times
Subscribe to RSS Follow Earth Times on TwitterNews by email
Share/Save/Bookmark
 
 



 
Subscribe to free Earthtimes
News Alerts by Email Click here
For RSS Feeds Click here
or Create your own RSS

Add to Google Toolbar
Breaking News
Press Releases

 


The Earth Times
News Category

© 2009 www.earthtimes.org, The Earth Times, All Rights Reserved | Privacy Policy
Earth Times accept no responsibility or liability either directly or indirectly for views or opinions expressed in articles or comments.