ChemDiv to Provide Merck KGaA With Discovery Chemistry in Multiyear Agreement, Extending Ongoing Collaboration
SAN DIEGO, February 13, 2007 /PRNewswire/ -- ChemDiv, Inc. (ChemDiv) announced today that Merck KGaA of Darmstadt, Germany, has renewed and expanded on an agreement with ChemDiv as its preferred provider of discovery libraries of lead-like small molecules through 2009. The new agreement expands the collaboration that has been going on for the last three years, and roughly doubles the FTE effort at ChemDiv's Chemical Diversity Research Institute in Moscow.
Under the terms of the agreement, a steering committee with representatives from Merck KGaA and ChemDiv will determine projects to be produced by ChemDiv for early stage discovery at Merck. Promising hits will then be further optimized and placed into Merck's discovery pipeline. Financial terms were not disclosed.
"This new agreement reflects the success of our previous relationship and our high esteem for the quality of ChemDiv's discovery and synthesis capabilities," said Peter Raddatz, Vice President of Medicinal Chemistry at Merck KGaA. "ChemDiv will continue to complement our in-house activities to add further diversity and novelty to Merck's discovery projects."
Nikolay Savchuk, President of ChemDiv, Inc. added: "We are proud that Merck decided to double the effort in our Moscow Institute, where we have established one of the largest drug discovery research centers in Eastern Europe, with emphasis on pre-clinical discovery research including high throughput chemistry and biology. We feel very comfortable supporting Merck's discovery effort with our steadily growing research resources, and look forward to diversify R&D collaboration."
About Merck KGaA:
Merck KGaA of Darmstadt, Germany, is a global pharmaceutical and chemical company with sales of EUR 6.3 billion in 2006, a history that began in 1668, and a future shaped by about 35,000 employees (including Merck Serono) in 56 countries. Its success is characterized by innovations from entrepreneurial employees. Merck's operating activities come under the umbrella of Merck KGaA, in which the Merck family holds a 70% interest and free shareholders own the remaining 30%. In 1917 the U.S. subsidiary Merck & Co. was expropriated and has been an independent company ever since.
About ChemDiv, Inc.
ChemDiv is a global chemistry-driven contract research organization focused on delivery of scientific innovation, identifying and delivering pre- clinical opportunities and services for life science partners, and merging industrial and academic efforts to bring new approaches to the treatment of life-threatening diseases. Over 16 years ChemDiv provides Discovery outSource(TM) solutions including medicinal and synthetic chemistry, pre- clinical development, screening libraries and global logistics. ChemDiv international research team encompasses 550 chemists and biologists in San Diego and Moscow based R&D centers.
CONTACT: Ron Demuth, General Manager of ChemDiv, Inc., +1-858-794-4860, orfax, +1-858-794-4931, email@example.com
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Posted: February 2007