Tampa, FL, June 16, 2007 --(PR.com
)-- Thrombotargets Corporation and Magellan Bioscience Group, Inc. today announced the formation of drug discovery joint venture.
Under the terms of this agreement, Magellan Bioscience Group, Inc. will provide to Thrombotargets its compounds and extracts from fermentation broths of marine-isolated microorganisms to be screened through the revolutionary High Throughput Screening of Pathway Activity, BIOPLATFORMSCREEN™ technology. This modified HTS platforms allows to both Thrombotargets and partners to identify novel hits for entire Pathways regulating a certain biological activity.
“This agreement with Thrombotargets further strengthens our existing relationships with pharmaceutical companies” said Todd R. Daviau, PhD, CEO of Magellan BioScience Group, Inc.. “The partnership offers both Thrombotargets and Magellan unique opportunities to discover novel medicines from our diverse natural products chemistry and across a wide range of therapeutic areas.” “We are very pleased to be working with Thrombotargets, an important pharmaceutical partner who recognizes the value that is derived from natural products drug discovery and our expertise in the sector”
Magellan BioScience Group, Inc. (www.magellanbioscience.com.), based in Tampa, FL, is a privately held innovative biotechnology company focused on the discovery of novel classes of therapeutic candidates. Magellan is using its integrated platform technologies to isolate and identify new biologically active compounds. The company believes that its library of marine microbes will be the next source of drug discovery for the pharmaceutical industry. Magellan aims to develop and optimize drug candidates to treat cancer, infectious diseases, and inflammation.
Todd R. Daviau, Ph.D.
Magellan BioScience Group, Inc.
About Thrombotargets Group:
Thrombotargets (www.thrombotargets.com) is a privately held group of Biotech companies focused in the discovery and development of innovative drugs in Haemostasis, Thrombosis and Atherosclerosis. The company has a number of potential new drugs in development internally, and its proprietary targets and innovative uHTS platforms are used for internal drug discovery programs, and also for out-licensing and partnering of new research projects.
Luis Caveda Ph.D.
Executive Vice President