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news.Pharmacopeia says it has identified a lead compound for advancement six months ahead of the original schedule in its collaboration with GlaxoSmithKline as a potential treatment for inflammatory pain.
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The company will now enter lead optimization as it continues to progress towards development. As a result of this identification, Pharmacopeia will receive a $500,000 milestone payment from GSK.
Under the terms of the companies’ collaboration, Pharmacopeia has already received $10 million from GSK and is entitled to an additional $5 million payment upon the completion of additional early discovery activities.
“Pharmacopeia scientists have identified a validated lead candidate worthy of optimization with the goal of identifying a preclinical development candidate. We look forward to advancing this program towards preclinical development and repeating this success in the other ongoing programs under our alliance with GSK,” said Les Browne, president and CEO of Pharmacopeia.