PsychoGenics Expands Drug Discovery Relationship with Eli Lilly and Company
TARRYTOWN, N.Y. (Business Wire EON/PRWEB ) January 31, 2008 --
PsychoGenics Inc. today announced that it has entered into an additional
drug discovery agreement with Eli Lilly and Company (NYSE:LLY). Per the
agreement, Lilly will supply pre-candidate compounds that PsychoGenics
will evaluate using its proprietary drug discovery technologies, for the
treatment of neuropsychiatric disorders. PsychoGenics and Lilly aim to jointly identify drug candidates suitable
for clinical development. Upon Lilly's further development of clinical
candidates, PsychoGenics would receive research and milestone payments,
and royalties. Dr. Emer Leahy, President and CEO of PsychoGenics, said, "We are
delighted to once again work with Lilly and play an integral and
expanding role in a successful drug discovery collaboration. We are
confident that by combining the complementary strengths and expertise of
PsychoGenics and Lilly, we may identify a new generation of treatments
for neuropsychiatric disorders.” PsychoGenics’ technologies combine its broad in
vivo behavioral expertise together with recent developments in
robotics, computer vision and bio/cheminformatics to evaluate drug
candidates for potential utility across the spectrum of neuropsychiatric
disease indications. Working in partnership with pharmaceutical and
biotech companies, PsychoGenics has been instrumental in identifying
therapeutic potential for discontinued compounds as well as early stage
compounds including some with novel “first-in-class”
mechanisms of action. About PsychoGenics PsychoGenics is a leader in preclinical behavioral neurobiology. The
Company applies its behavioral expertise together with advances in
robotics, computer vision and informatics to provide innovative
solutions for central nervous system drug discovery. PsychoGenics works
with pharmaceutical and biotechnology companies, academic institutions
and not-for-profit research foundations to help discover treatments for
such major neurological and psychiatric disorders as: ALS, anxiety,
cognitive impairment, depression, Huntington’s
Disease, psychosis/schizophrenia, and SMA. The Company’s
in-house discovery efforts have focused on psychiatric indications. For
more information on PsychoGenics Inc. visit www.psychogenics.com
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