Therasci and Xenome enter nervous system drug discovery collaboration

Cambridge, UK. December 10th, 2002: TheraSci Limited, announced today that it has signed an agreement with Xenome Ltd, an Australian company specialising in novel peptide chemistry and drug discovery. TheraSci and Xenome will collaborate on the design, synthesis and screening of novel venom peptides and derivatives for evaluation as potential modulators of TheraSci’s drug targets. 

TheraSci exploits a low risk, accelerated approach to drug discovery by applying modern technologies to discover and develop novel, superior compounds for established drug targets. Xenome has synthesised libraries of peptides, based on native structures isolated from a variety of venomous species. TheraSci will be responsible for screening these libraries against undisclosed drug targets to identify hit compounds. TheraSci and Xenome will collaborate on the design and evaluation of lead series of both peptide and non-peptide drugs arising from the research.

Under the agreement, both Xenome and TheraSci will equally share ownership of the new intellectual property and each will have the opportunity to participate in its commercial development.

Gary Tilbrook, Chemistry Director of TheraSci Limited, said “We are very pleased to work with Xenome in this exciting area. We are impressed with Xenome’s expertise and track-record in peptide design and synthesis and believe the quality and nature of these libraries makes them ideally suited to our drug targets.”

Roger Drinkwater, Head of Research and Molecular Biology Director at Xenome, said: ‘We have already established that Xenome’s unique peptide library contains novel structures covering a broad range of pharmacologies. Therasci’s drug target focus appears to be well matched to the library, and we are looking forward to the screening program that will be conducted through this collaboration’.

About TheraSci
TheraSci Limited, a privately-held company based in Cambridge, UK, is an emerging product-focussed drug discovery and development company. The company is addressing a number of unmet medical needs of the central and peripheral nervous system drug markets. TheraSci exploits a low risk, accelerated approach to drug discovery by applying modern technologies to discover and develop novel, superior compounds for established drug targets. The Company has drug discovery partnerships with BioFocus and Aquaartis. Additionally, TheraSci is actively in-licensing later-stage compounds in order to build a strong, risk-balanced pipeline.

About Xenome
Xenome is a public, non-listed biotechnology company located in Brisbane, Australia. Xenome has established state-of-the-art laboratories where it conducts research and development activities using molecular genetics, peptide chemistry and molecular pharmacology technologies. Xenome focuses on the discovery of novel molecules, especially peptides from the venoms of Australian animals. Its research has led to the production of a library of molecules from these venoms which is now in demand by biotechnology and pharmaceutical companies in USA and in Europe. Current major shareholders are Medica Holdings Limited, an Australian Stock Exchange (ASX) listed biotechnology investment company, UniQuest Pty Ltd, the commercialisation company of the University of Queensland, and BioTech Capital Limited, an ASX listed biotechnology investment fund managed by Challenger BioTech Management Limited, a member of the Challenger International Group.

For further information please contact:

Gary Tilbrook, Chemistry Director
TheraSci Limited
Phone: +44(0)1223 266 792
E-mail: gary.tilbrook@therasci.com
Website: www.therasci.com

Tony Evans, CEO
Xenome Ltd
Phone: +617 3720 8055
E-mail: tony.evans@xenome.com 
website: www.xenome.com