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news.CrystalGenomics would use its structure-based drug discovery platform to identify novel drug candidates, while Palkion to oversee the clinical development
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Palkion has initiated preclinical development studies for orally available anemia therapeutic candidate, that modulates the Hypoxia-Inducible factor Prolyl Hydroxylase (HIF-PH) enzyme system.
CrystalGenomics would use its structure-based drug discovery platform to identify novel drug candidates, while Palkion to oversee the clinical development.
Under the strategic alliance, CrystalGenomics will receive upfront and research funding for 2 years from Palkion, in addition to development and sales milestone payments of more than $200 million.
Dr. Joong-Myung Cho, President and CEO, CrystalGenomics, said: This sooner than expected start of preclinical development studies is an affirmation of CrystalGenomics’ capability to discover novel drug candidates in an efficient way and through shared responsibilities with Palkion, we will accelerate our drug development process and establish CG as a global-scale pharmaceutical firm.
Palkion and CrystalGenomics anticipate the initiation of safety and efficacy clinical studies in 2010. In preparation of expedited preclinical development, Palkion has assembled a team of clinical, regulatory and commercial experts from the pharmaceutical industry.