Axys Pharmaceuticals and Protein Design Labs Collaborate on Small Molecule Library Screening

Strategic Insights -

Axys Pharmaceuticals, a leader in the integration of life science technologies, and Protein Design Labs, a developer of humanized and human antibodies, have announced an agreement to discover compounds that interact with key cellular signaling pathways. The collaboration will leverage Axys' diverse small molecule library and PDL's proprietary assays to identify potential drug leads. Under the terms of the agreement, Axys will receive an upfront payment, as well as additional payments upon the achievement of research and development milestones.

Key Takeaways:

  • Axys Pharmaceuticals and Protein Design Labs have entered into a collaboration to discover compounds that interact with key cellular signaling pathways.
  • The partnership will use Axys' small molecule library and PDL's proprietary assays to screen compounds and identify potential drug leads.
  • Axys will receive an upfront payment and additional payments upon the achievement of research and development milestones.
  • The collaboration combines Axys' highly diverse library of drug-like compounds with PDL's capabilities in combinatorial chemistry and target identification.
  • The partnership aims to rapidly identify and optimize novel small molecule compounds in targeted pathways.

Statistics:

  • $0.5 million - Upfront payment to Axys Pharmaceuticals
  • 5 - Number of probable revenue-generating collaborations Axys has entered into in the past 12 months
  • 25% - Increase in revenue expected from Axys' Advanced Technologies Division in 1999

Sources:

  • "Axys Pharmaceuticals, Inc. and Protein Design Labs, Inc. Announce Agreement for the Discovery of Compounds that Interact with Key Cellular Signaling Pathways" (February 1, 1999)
  • Axys Pharmaceuticals, Inc. Report on Form 10-K for the fiscal year ended December 31, 1997
  • Axys Pharmaceuticals, Inc. website: http://www.axyspharm.com