Pharmagene and B-MS in agreement

Royston, UK-based Pharmagene has entered into an agreement, through its wholly-owned subsidiary Pharmagene Laboratories, with Bristol-Myers Squibb for access to Pharmagene's compound validation resource, Phase Zero for up to three years.

Bristol-Myers Squibb has also extended its access to Pharmagene's TargetEvaluator capability for the same period. The financial terms were not disclosed.

Many compounds fail during clinical development due to unpredicted and unwanted responses in man. Reasons for the appearance of such responses may include not only selection of inappropriate targets and compounds, but also the failure of experimental animals to accurately predict activity in man. Access to Pharmagene's human tissue-based approach through Phase Zero and TargetEvaluator assists in the early identification of possible adverse events, and thus may help reduce the high attrition rates and costs associated with drug discovery and development.

Under the terms of the agreement extending Bristol-Myers Squibb's access to Pharmagene's TargetEvaluator capability, Pharmagene will continue to provide focused access to its human tissue based gene profiling capability, assisting Bristol-Myers Squibb in its novel therapeutic discovery activities. Under the terms of the Phase Zero agreement, Pharmagene will undertake a range of bespoke studies for Bristol-Myers Squibb in the areas of compound and target validation. The nature of the Phase Zero studies will vary depending on the needs of Bristol-Myers Squibb over the term of the agreement.

Dr Alastair Riddell, CEO of Pharmagene, commented: 'I am delighted to have Bristol-Myers Squibb extend its access to Pharmagene's TargetEvaluator capability for up to three years. I am particularly pleased, however, that Bristol-Myers Squibb sees additional value in a Phase Zero commitment over the same period.'