GeneFormatics Inc. and Arakis Limited have announced a collaborative agreement for the joint discovery of Performance Enhanced Medicines (PEMs). PEMs are novel pharmaceutical products created using advances in biology to identify applications of established drugs in new indications.
Additional clinical and patient benefit is provided using a diverse range of pharmaceutical technologies primarily drug delivery and chemical modification.
Under the terms of the agreement, GeneFormatics will use its structural proteomics capabilities to identify and describe secondary biochemical functional sites.
This information, combined with Arakis proprietary know how and databases, will be used to define and validate druggable protein targets for joint development of PEMs as pharmaceutical products.
Financial terms of the agreement were not disclosed.
“We are pleased to enter into this collaboration with Arakis, which marks our first drug discovery agreement,” said John Chiplin, Ph.D., president and CEO of GeneFormatics.
“Our proprietary structural and chemoproteomics technologies will be used to screen and validate annotations against Arakis’ database of pharmacological targets for the development of Performance Enhanced Medicines in select therapeutic areas.”
“Combining GeneFormatics’ expertise in structural and chemoproteomic technologies with our pharmacology and biology knowledge is a perfect fit for the continued discovery of Performance Enhanced Medicines,” said Ken Cunningham, M.D., CEO of Arakis.
GeneFormatics Inc. is a drug discovery company whose DIAMOND (Diverse Integrated and Automated Methods of Novel Discovery) technologies enable drug discovery by integrating structural and chemoproteomics.
Arakis is an emerging specialty pharmaceutical company focusing on development and commercialization of innovative market orientated, therapeutic products — which are termed Performance Enhanced Medicines (PEMs).