Chicago, October 8, 2001 - MediChem
Life Sciences, a drug discovery company, announced today that it has entered into a two-year strategic
medicinal chemistry agreement with Pharmacia Corporation, a top-tier global pharmaceutical company.
Under the terms of the agreement, MediChem will commit medicinal
chemistry resources to perform drug discovery and development activities in collaboration with Pharmacia's in-house medicinal chemistry teams.
MediChem's medicinal chemistry resources will perform medicinal chemistry research, structure-activity relationship analysis and lead optimization studies. MediChem will also assist Pharmacia in filing patent applications to establish broad patent protection of compounds MediChem discovers.
MediChem's scientists will perform chemistry consulting,
computational chemistry and
parallel synthesis, as well as
process development and
process optimization studies of Pharmacia's chemical leads to advance Pharmacia's drug discovery programs.
Pharmacia will pay MediChem for research conducted by MediChem scientists in the collaboration. MediChem will also receive royalties for all net sales of products that MediChem invents or co-invents.