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February 13, 2007

Vastox Signs Two Drug Discovery Deals

  • VASTox signed two long-term chemical genomics deals with a combined value of Euro $1 million. In the first transaction, VASTox entered into a drug discovery and toxicology screening collaboration with Rottapharm. It is worth up to Euro 365,000 over 12 months, which includes an upfront payment and research funding milestones.

    Under the terms of this partnership, the companies will generate a screening model for osteoarthritis to test potential drug candidates. The firms believe that this will accelerate Rottapharm’s discovery program. In addition, VASTox will provide predictive safety and toxicology testing with its vivo™ technology platform.

    The second agreement is with an unnamed European biotechnology company and will use VASTox’ medicinal chemistry expertise and experience in research to support one of the client’s drug discovery program. VASTox will receive up to Euro 635,000 over 10 months.