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Marinomed Signs Drug Discovery Collaboration with BIOALVO

24 Sep 2009 - Marinomed Biotechnologie GmbH announced the signing of a deal with the Portuguese company BIOALVO under which the two companies will collaborate to find drug candidates screened from BIOALVO’s PharmaBUG marine extract library. Financial terms were not disclosed.
 
Under the terms of the deal BIOALVO will grant Marinomed access to BIOALVO’s PharmaBUG natural marine extracts. Marinomed will then have exclusive rights to use its own screening platform to identify those with therapeutic potential for indications in the areas of immunology and infectious diseases.
 
Dr Andreas Grassauer, CEO and co-founder of Marinomed, commented: "We are delighted to have signed this collaboration with BIOALVO. The rich source of natural marine extracts from PharmaBUG offers us a unique resource to screen and hopefully generate new natural leads for development in our core therapeutic indications.”