Shenogen Pharma Group, Chemizon sign drug discovery collaboration agreement

Feb 11 2010

Shenogen Pharma Group and Chemizon, a division of Optomagic Co. Ltd. (KOSDAQ: 0101070) today announced a drug discovery collaboration agreement to create small molecule therapeutics targeting modulators of the ER-alpha 36 receptor.

“We are delighted that Shenogen, a world leader in the field of non-classical estrogen receptor signaling, chose Chemizon as their partner”

"We are very pleased to enter into this collaboration with Chemizon whose experienced management team has a track record of success in creating promising drug candidates," said Dr. Jin Li, President of Shenogen Pharma Group. "This collaboration underscores our commitment towards creating orally administered, small molecule modulators of the non-classical Estrogen Receptor pathway that target indications including metastatic breast cancer and osteoporosis.”

Chemizon will be responsible for a spectrum of activities for an integrated drug development program including lead optimization, assay development, ADME, DMPK, Computational chemistry, and animal pharmacology. Financial details of the transaction were not disclosed. "We are delighted that Shenogen, a world leader in the field of non-classical estrogen receptor signaling, chose Chemizon as their partner," said Dr. Anthony D. Piscopio, Chief Executive Officer, of Chemizon. "We expect the synergy resulting from this partnership will result in novel breakthrough therapies that will ultimately benefit patients afflicted with life threatening diseases.”