The companies will jointly develop a drug candidate for chronic inflammatory diseases.
Compugen Ltd. (Nasdaq: CGEN; TASE: CGEN) and Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) will collaborate to jointly develop CGEN-54, a Compugen-discovered novel splice variant of Monocyte Chemoattractant Protein 1 (MCP1). Teva will have worldwide exclusive development and commercialization license for CGEN-54, a drug candidate for chronic inflammatory diseases.
CGEN-54 is one of a large number of novel splice variants predicted in silico using a Compugen discovery engine, and then validated experimentally. Compugen will provide Teva with research quantities of CGEN-54 and conduct further in vivo validation experiments.
Compugen president and CEO Alex Kotzer said, "One of the first discovery engines we developed was to predict splice variants of known therapeutic proteins. A number of attractive candidates - including this splice variant of MCP1 - were predicted that subsequently were manufactured and initially validated by Compugen. We are very pleased that this first collaboration agreement covering one of these candidates is with Teva, a leader in chronic inflammatory disease and a partner with us in other areas."
Published by Globes [online], Israel business news - www.globes.co.il - on August 28, 2007
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