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GEN News Highlights : Feb 26, 2007

Graffinity and Amgen Enter into Drug Discovery Research Agreement

Identification of novel modes of action and chemistry is a major focus of the collaboration.

Graffinity Pharmaceuticals entered into a research collaboration with Amgen. Under the terms of the agreement, Graffinity will receive technology access fees and success payments for the generation of novel small molecule hits against a broad range of drug targets.

Amgen will gain access to Graffinity’s proprietary fragment-based drug discovery technology, which uses chemical microarrays to screen for small molecule fragments that bind to a variety of drug targets that play a key role in major human diseases. The identification of novel modes of action and chemistry is a major focus of the collaboration. Financial details of the transaction were not disclosed.