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news.In a recently signed technology transfer and option agreement, Praecis Pharmaceutical's is to use its proprietary DirectSelect technology to identify lead drug candidates for an antiviral target supplied by Gilead Sciences.
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The companies will collaborate to identify lead molecules that have defined activities against the antiviral target. Each company will fund its own resources during the course of the research collaboration.
Praecis will own any lead molecules identified during the course of the research collaboration, whilst Gilead has an exclusive option to enter into a license agreement for any lead molecules so identified.
“We are pleased to be working with Gilead against a therapeutic target in which we have strong mutual interest. This is our first collaboration using our DirectSelect technology and Gilead, a leader in antiviral research, brings an extensive amount of expertise that should be very beneficial in helping to drive this program,” stated Kevin McLaughlin, president and CEO of Praecis.