EPIX Achieves Milestone for Second Discovery Program in Collaboration with GlaxoSmithKline

Date Posted: Wednesday, November 07, 2007

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EPIX Pharmaceuticals, Inc. has announced that it has achieved a key milestone related to the second of three discovery programs under its collaboration with GlaxoSmithKline.

Using its proprietary, integrated computational-medicinal chemistry approach to drug discovery, EPIX has identified three lead candidates to move forward into lead optimization in this second G-protein coupled receptor (GPCR) discovery program.

Under the collaboration, EPIX is entitled to receive a $3 million milestone payment from GSK in the next 30 days. In August, EPIX announced that it had identified three lead candidates for the first discovery program, which entitled the company to a $3 million milestone payment.

"We continue to be pleased by the ongoing progress of our collaboration with GSK and our ability to move these discovery programs forward," said Michael G. Kauffman, M.D., Ph.D., chief executive officer of EPIX.

"Our ability to deliver lead candidates for two discovery programs further validates our approach and the productivity of our partnership with GSK. We look forward to continuing our efforts to deliver on our joint goals and achieve key milestones," Kauffman continued.

"We're very happy that the EPIX in silico approach to drug discovery continues to deliver promising results, in this case three more lead candidates that we will move forward into lead optimization as part of our collaboration with GSK," said Yael Marantz, Ph.D., executive director of computational drug discovery at EPIX.

"We are extremely proud of our group and our joint work with GSK - together, we are delivering on joint timelines and goals for our collaborative GPCR discovery programs," Yael added.

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