Ares-Serono of Switzerland has signed a two-year combinatorial chemistrycollaboration with Oxford Asymmetry International of the UK. Under the terms of the deal, OAI will supply chemical libraries of compounds to A-S and will receive a minimum of L2.7 million ($4.5 million), plus royalty payments once products from the collaboration are commercialized.
Timothy Wells, director of the Serono Pharmaceutical Research Institute, said that it is important for companies such as A-S to have access to small molecules in addition to the traditional protein therapeutics focus. Edwin Moses, OAI's chief executive, said the agreement strengthens its influence within the pharmaceutical market.
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