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news.Drug discovery company Cellzome has received the first milestone payment for its Gamma Secretase Modulator program as part of its agreement with Ortho-McNeil Pharmaceutical.
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Ortho-McNeil entered into a collaboration and license agreement with Cellzome in May 2005 and the collaboration was extended for a further year in January 2007. The milestone payment is in connection with the selection of a lead compound.
Tim Edwards, Cellzome’s CEO, said: “I am delighted with the progress we have made in our collaboration. This milestone payment is a reflection of the continued productivity of Cellzome’s drug discovery group in working with our collaborator to advance toward preclinical development a potential oral therapeutic for patients with Alzheimer’s disease, and further demonstrates the utility of our leading chemical proteomics technology.”