Materia and Peakdale Collaborate to Commercialize Metathesis-Based Privileged Scaffolds
Materia, Inc. and Peakdale Molecular Ltd. announced today their collaboration to offer metathesis-based scaffolds for the pharmaceutical industry.
PASADENA, CA. and CHAPEL-EN-LE-FRITH, UK. – (BusinessWire) – March 1, 2007. Materia, Inc. and Peakdale Molecular Ltd. announced today their collaboration to offer metathesis-based scaffolds for the pharmaceutical industry. Under the agreement, Peakdale has acquired non-exclusive rights to practice Materia’s metathesis intellectual property portfolio for the design, development, and sale of research quantities of the scaffolds. The partners will jointly identify target compounds, while Peakdale will be primarily responsible for the compounds’ development, production, and initial distribution.
The collaborators will introduce two new series of privileged scaffolds by the end of 2007, with further series expected to be introduced in 2008. The initial series was selected by Dr. Ray Fisher (Peakdale’s Commercial Director) because of its usefulness in exploring novel drug like space and its suitability to synthesis via metathesis.
“Peakdale has demonstrated both strong design and development capabilities as well as considerable insight into the scaffolds of interest to discovery chemists,” stated Dr. Michael Giardello, Materia’s Chief Executive. “We are pleased to partner with them to expand metathesis’ application in the pharmaceutical industry.”
Dr. Fisher added, “We believe that metathesis is becoming an important tool for drug discovery. Materia is our partner of choice as it is has the broadest metathesis intellectual property position and the active support of the pioneering Nobel Prize winning chemists.”
Materia was founded in 1998 to commercialize olefin metathesis catalyst technology. This market-enabling, Nobel Prize winning, green chemical technology enables chemical compounds to be synthesized with greater efficiency, under less stringent reaction conditions, and with reduced byproducts and hazardous waste. As stated by the Royal Swedish Academy of Sciences when awarding the 2005 Nobel Prize, “metathesis is an example of how important basic science has been applied for the benefit of man, society, and the environment.” For more information, visit: www.materia-inc.com.
About Peakdale Molecular
Peakdale Molecular was founded in 1992. Today, the Company’s customers include many of the worlds’ top pharmaceutical companies and an increasing number of biotechnology companies. Its teams of chemists combine experience in pharmaceutical R&D and process development, medicinal chemistry, parallel synthesis and fine chemicals to deliver unique chemistry solutions to a range of drug discovery challenges.
Application of less commonly used chemistry, including high temperature/pressure reactions, proprietary heterocyclic chemistry and nucleoside synthesis, enables Peakdale’s chemists to generate unique compounds for drug discovery. Peakdale operates in several distinct markets providing novel screening compounds, targeted screening libraries, catalogue intermediates, custom synthesis and contract research. Further information about the Company can be obtained at www.peakdale.co.uk
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