Gene Logic's makeover as a drug developer took another step forward today as it announced a deal to take a second look at drugs Solvay either discontinued or chose not to prioritize. The key qualifier: The compounds Gene Logic hopes to resuscitate weren't left to die because they proved unsafe during trials.
Originally a genetic data company [1], Gene Logic has more recently been striking deals to see if sidetracked experimental therapies have undisclosed potential in unexpected areas. In the deal announced this morning, Gene Logic has the potential to earn revenue from any new drug developed in the program and also has the option to license any therapy that Solvay opts to leave on the back burner. In those cases, Solvay would be positioned to earn milestones and royalties.
- see the release [2]
- read the report [3] from the Baltimore Sun
Related Articles:
Gene Logic takes fresh look at Merck KGaA drugs. Report [4]
Gene Logic, Abbott strike development deal. Report [5]
Gene Logic re-examines Organon candidates. Report [6]
Gene Logic to give Lilly drugs fresh look. Report [7]
Links:
[1] http://www.fiercebiotech.com/story/gene-logic-cuts-jobs-at-struggling-genomics-division/2006-08-02
[2] http://www.fiercebiotech.com/press-releases/press-release-gene-logic-and-solvay-pharmaceuticals-enter-agreement
[3] http://www.baltimoresun.com/business/bal-gene0827,0,4225046.story
[4] http://www.fiercebiotech.com/story/gene-logic-takes-fresh-look-at-merck-kgaa-drugs/2007-08-24?utm_medium=nl&utm_source=link
[5] http://www.fiercebiotech.com/story/gene-logic-abbott-strike-development-deal/2007-05-11
[6] http://www.fiercebiotech.com/story/gene-logic-re-examines-organon-candidates/2006-04-21
[7] http://www.fiercebiotech.com/story/also-noted-nabi-sells-unit-to-fresenius-gene-logic-to-give-lilly-drugs-fres/2006-10-12