Pharmagene collaborates with Sosei in first Indication Switch™ alliance
Royston, UK, 5 March 2002 - Pharmagene plc announced today that it has signed its first Indication Switch™ alliance with Sosei Co., Ltd, the Japanese biopharmaceutical company.
Sosei has secured access to a significant number of small molecule compounds from Japanese pharmaceutical companies, which have either stalled in clinical development for reasons other than toxicity or which have already been marketed in Japan but not in the major western markets. Under the terms of the agreement, Pharmagene will select a number of these compounds and will screen them for their potential as Indication SwitchTM opportunities. Pharmagene will share in all new intellectual property developed and expects to benefit from downstream rights resulting from commercial exploitation of such opportunities.
Indication Switch™ is an approach whereby Pharmagene evaluates existing compounds using its available technologies to reveal previously unknown therapeutic indications. Indication Switch™ has been designed to help relieve the considerable pressure that the pharmaceutical industry is under to develop and maximise the value of new products. The value of such an approach lies in its potential to reduce the time, cost and risks associated with getting a new pharmaceutical product to market.
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