Collaborative agreement signed for identification of novel drug targets

PhoreMost, UK-based biopharmaceutical company, has signed a collaborative agreement with Plexxikon, the small molecule structure-guided R&D centre of Daiichi Sankyo, for the identification of novel drug targets.

Under the terms of the agreement, PhoreMost will apply its next-generation phenotypic screening platform, SITESEEKER, towards key cancer-driving cellular pathways. Additionally, this alliance will draw upon the experience of Dr Simon Cook at the Babraham Institute(Cambridge, UK) in signal transduction. The goal of the collaboration will be to deliver novel drug targets that can serve as starting points for new drug discovery initiatives led by Plexxikon.

“We are delighted to have signed our agreement with PhoreMost,” said Dr Gideon Bollag, CEO of Plexxikon. “The SITESEEKER approach using small peptides to rapidly and systematically search for drug targets can provide significant value to Plexxikon’s structure-guided drug discovery programmes.”

“We are excited to bring our SITESEEKER technology to this collaboration with Plexxikon and the Cook lab, leading experts in cell signalling pathways,” added Dr Chris Torrance CEO of PhoreMost. “This is an ideal partnership to potentially transform biological insights into the next generation of innovative medicines.”

Cook revealed: “I am thrilled to be working together with both PhoreMost and Plexxikon. This is a great example of partners with complementary skill-sets coming together to identify and validate elusive new drug targets.”