News | December 8, 1998

ChemRx To Develop Compounds For Signal Pharma Under New Agreement

ChemRx and Signal Pharmaceuticals have signed a chemistry-based development agreement, under which ChemRx, a wholly owned subsidiary of Discovery Partners International, will develop multiple classes of compounds for Signal's drug discovery and lead optimzation libraries. ChemRx will develop the chemistries on a fee-for-service basis, providing the compounds to Signal on an exclusive basis with no milestone or royalty obligations.

"We see this type of business model as the wave of the future for companies providing chemistry-based drug discovery services for the pharmaceutical industry," said Dr. Richard K. Brown, vice president of business development at ChemRx. Doug Richards, vice president of corporate development at Signal, confirmed Brown's opinion, commenting, "ChemRx' business model was exactly what we were looking for—exclusivity for the chemical libraries and no royalties or other trailing rights."

ChemRx scientists use the combinatorial chemistry tools developed by their sister company, IRORI, to convert synthesis methods into chemical libraries for pharmaceutical lead discovery or for optimization of new drug leads.

For more information: Dr. Richard K. Brown, VP of Business Development, ChemRx, Telephone: 619-546-1300 or Doug Richards, VP of Corporate Development, Signal Pharmaceuticals, Inc. Telephone: 619-558-7500.