LONDON (ShareCast) - (Sharecast News) - E-therapeutics announced an agreement to work with an unnamed "global top five pharmaceutical company" on Tuesday, on a project in a specific area of biology associated with neurodegenerative diseases.
The AIM-traded firm said that under the 12-month agreement, it would use its proprietary 'Network-Driven Drug Discovery' (NDD) approach to identify novel disease pathways and small molecules, both of which had the potential to modulate the biology of interest.

As part of the project, the company said it would test the compounds resulting from its NDD platform in its in-house assays.

"We are thrilled to be working with one of the largest global pharma companies in an exciting area of disease biology where there is a significant unmet need," said chief executive officer Dr Ray Barlow.

"This deal will allow us to directly showcase our NDD technologies to them and the work has the potential to generate new therapeutic assets to add to our existing portfolio.

"We continue to work on a number of different types of external collaborations and look forward to sharing further news during the remainder of the year."

E-therapeutics said it would be reimbursed for certain costs it incurred during the execution of the work.

Intellectual property rights and know-how from e-therapeutics had not been granted to the company, the board confirmed, and the results and inventions produced by the company during the project would be the sole property of e-therapeutics.

The pharma partner also had a review period, during which time it would decide whether to negotiate a collaboration with e-therapeutics.

In the absence of such an agreement, e-therapeutics said it would be able to use the results from the project.

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