Avalon will use its proprietary AvalonRx platform to discover new active compounds in screens against selected targets and target pathways.
ChemDiv will provide Avalon access to its Discovery outsource services platform, including the world’s largest commercially available chemical library, as well as medicinal and synthetic chemistry for the discovery and development of new active compounds.
Avalon and ChemDiv will share in the costs of development and the value of any lead candidate resulting from their joint research efforts. Additional terms of the agreement provide Avalon with the right to select 200,000 compounds from the ChemDiv library for use in all of Avalon’s discovery programs.
“We are excited about this partnership with Avalon,” said Nikolay Savchuk, president and CEO of ChemDiv. “We believe that this combination of both Avalon’s and ChemDiv’s technologies will result in a reduction of the time and effort required to identify and develop new breakthrough therapeutics.”