Gene Logic's drug repositioning program seeks to find alternative development paths for drug candidates with good safety records. The program offers pharmaceutical partners a new approach to help bolster their pipelines.
The agreement provides for milestones and royalties to be paid to Lilly discounted to account for its contribution as the originator of the compound. The agreement also provides Gene Logic the option to receive an exclusive license to any drug candidate that Lilly chooses not to pursue, in which case Lilly would receive success-based milestone and royalty payments.
“Our systematic multiple technology approach is specifically designed to provide a comprehensive picture of the drug candidates' biological activities and determine if there are new therapeutic uses for these potential medicines,” said Louis Tartaglia senior vice president of drug repositioning for gene Logic.
“The goal of our program is to provide partners with substantial value; clearly this message is resonating with large pharmaceutical companies,” commented Mark Gessler, Gene Logic CEO.