Norak Biosciences And SCYNEXIS Announce Chemistry Collaboration

Friday December 05 2008 | Biotechnology feed | All feeds

Norak Biosciences And SCYNEXIS Announce Chemistry Collaboration

SCYNEXIS will develop lead chemistry against Norak's novel desensitization targets

RESEARCH TRIANGLE PARK, North Carolina, USA (--April 13, 2004) - Norak Biosciences, Inc. and SCYNEXIS, Inc. announced today that they have entered into a research collaboration to discover and develop novel pharmaceutical compounds. Under the agreement, Norak has transferred to SCYNEXIS certain active compounds and chemical structures from Norak's proprietary Transfluor® screening exercise of its chemical libraries against its novel desensitization targets. These will add to Norak's internal drug discovery pipeline.

The collaboration provides access by Norak to a SCYNEXIS research unit which includes MEDCHEM-FACTORY technology, HEOS Hit Explorer Operating System software and medicinal chemistry expertise. This access will accelerate the identification of new leads for Norak's drug targets by producing large, focused, high-purity compound libraries and then utilizing rapid lead optimization to identify clinical candidates.

Specific financial terms were not disclosed. However, Norak will receive exclusive worldwide rights to products developed through the collaboration in exchange for technology access fees and other compensation for SCYNEXIS technologies and services.

"We are pleased to enter into this chemistry collaboration with such an exceptional medicinal chemistry company" commented Dr. Roger D. Blevins, Norak's president and CEO. "SCYNEXIS' proprietary compound library purification, analytical tools and strong medicinal chemistry expertise will rapidly advance our discoveries."

"SCYNEXIS is pleased to collaborate with NORAK in the discovery and development of new drugs. This collaboration allows our companies to match complementary innovative technologies, which have been validated by transactions with key pharmaceutical industry organizations, in a research unit arrangement that provides for mutual success," said Dr. Yves J. Ribeill, President & CEO of SCYNEXIS.

Norak's Transfluor technology is a patented, universal GPCR drug discovery technology designed to be the most accurate method for discovering ligands for GPCR targets, whether known or orphan. Transfluor was exclusively licensed in 1999 by Norak from technology developed at Duke University Medical Center and represents the combined research into GPCR signaling pathways over several decades by Norak's scientific founders, Drs. Marc Caron, Robert Lefkowitz, and Larry Barak.

Norak Biosciences, Inc., headquartered in Research Triangle Park, NC, is a private biotechnology company. Norak is utilizing its proprietary Transfluor technology to become a worldwide leader in the discovery and development of drugs that regulate G protein-coupled receptors. For more information about Norak Biosciences, Inc., please visit the Company's website at http://www.norakbio.com .

SCYNEXIS is a medicinal chemistry-focused drug discovery and development company headquartered in Research Triangle Park, North Carolina with European operations, SCYNEXIS Europe Ltd., located near Cambridge, England. By combining its chemists' expertise with its proprietary MEDCHEM-FACTORYÔ technology and Hit Explorer Operating System (HEOSÒ), SCYNEXIS provides improved speed and productivity in the chemical validation of drug targets. SCYNEXIS also offers novel hit generation compounds, hit explosion and lead optimization services as well as process optimization, purification and analysis of compound libraries, in vitro and in vivo ADMET, the production of clinical samples in its GMP facility and radiochemistry synthesis services. For more information, please visit www.scynexis.com.

Media Contacts:

For NORAK: Terry Willard

(919) 248-8000 x8804

twillard@norakbio.com

For SCYNEXIS in the US: Rick Rountree

(919) 786-0872

rountreecom@mindspring.com

For SCYNEXIS in Europe: Andy Matthews, O2PR

+44 (0) 1223 309500

andy.matthews@o2pr.co.uk

Business Development Contacts:

For NORAK: Terry Willard