Gene Logic Inc. (MM) (NASDAQ:GLGC)
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From Jan 2020 to Jan 2025
Gene Logic Inc. (NASDAQ: GLGC) announced today that it has entered into
a drug repositioning and development agreement with Eli Lilly and
Company to seek alternative development paths for multiple Lilly drug
candidates. All of these drug candidates were discontinued or
de-prioritized in clinical trials for reasons other than safety.
The agreement provides for milestones and royalties similar to those
paid for development-stage in-licensing deals, discounted to account for
Lilly’s contribution as the originator of the
compound. The agreement also provides Gene Logic the option to receive
an exclusive license to any drug candidate that Lilly chooses not to
pursue, in which case Lilly would receive success-based milestone and
royalty payments.
Gene Logic’s Drug Repositioning Program seeks
to find alternative development paths for drug candidates with good
safety records that have been de-prioritized or discontinued in clinical
trials. The program offers pharmaceutical partners a novel approach to
bolster their pipelines with high-quality drug candidates that
originated from their own R&D efforts. Applying a diverse set of drug
discovery technologies in parallel, Gene Logic’s
Drug Repositioning Program evaluates drug candidates for potential
utility across a wide spectrum of disease indications.
Louis Tartaglia, Ph.D., general manager and senior vice president of
Drug Repositioning for Gene Logic, said, “We
are particularly pleased to add Lilly as another partner that already
has a sophisticated thought process around drug repositioning. Gene Logic’s
Drug Repositioning Program complements Lilly’s
own efforts to find new uses for unsuccessful drug candidates. Our
systematic multiple technology approach is specifically designed to
provide a comprehensive picture of the drug candidates’
biological activities and determine if there are new therapeutic uses
for these potential medicines.”
Mark Gessler, Gene Logic CEO commented, “We
are very pleased to have Lilly as our fourth major pharmaceutical
partner. The goal of our program is to provide partners with substantial
value; clearly this message is resonating with large pharmaceutical
companies and is establishing Gene Logic as a leader in drug
repositioning.”
Gene Logic Overview
Gene Logic technologies and services are used by many of the world’s
top pharmaceutical and biotechnology companies. Over 150 organizations
and government agencies have benefited from Gene Logic’s
diverse portfolio of drug development services, enabling them to make
more informed, more reliable and more predictive decisions at each point
in the highly complex and costly drug development process. Gene Logic
currently has drug repositioning agreements with a number of
pharmaceutical companies. Gene Logic is headquartered in Gaithersburg,
Maryland, conducts additional research and development in facilities in
Cambridge, Massachusetts, and has customer support operations in the
U.S., Europe, and Asia. For more information, visit www.genelogic.com
or call toll-free – 1/800/GENELOGIC.
Gene Logic Inc. (NASDAQ: GLGC) announced today that it has entered
into a drug repositioning and development agreement with Eli Lilly and
Company to seek alternative development paths for multiple Lilly drug
candidates. All of these drug candidates were discontinued or
de-prioritized in clinical trials for reasons other than safety.
The agreement provides for milestones and royalties similar to
those paid for development-stage in-licensing deals, discounted to
account for Lilly's contribution as the originator of the compound.
The agreement also provides Gene Logic the option to receive an
exclusive license to any drug candidate that Lilly chooses not to
pursue, in which case Lilly would receive success-based milestone and
royalty payments.
Gene Logic's Drug Repositioning Program seeks to find alternative
development paths for drug candidates with good safety records that
have been de-prioritized or discontinued in clinical trials. The
program offers pharmaceutical partners a novel approach to bolster
their pipelines with high-quality drug candidates that originated from
their own R&D efforts. Applying a diverse set of drug discovery
technologies in parallel, Gene Logic's Drug Repositioning Program
evaluates drug candidates for potential utility across a wide spectrum
of disease indications.
Louis Tartaglia, Ph.D., general manager and senior vice president
of Drug Repositioning for Gene Logic, said, "We are particularly
pleased to add Lilly as another partner that already has a
sophisticated thought process around drug repositioning. Gene Logic's
Drug Repositioning Program complements Lilly's own efforts to find new
uses for unsuccessful drug candidates. Our systematic multiple
technology approach is specifically designed to provide a
comprehensive picture of the drug candidates' biological activities
and determine if there are new therapeutic uses for these potential
medicines."
Mark Gessler, Gene Logic CEO commented, "We are very pleased to
have Lilly as our fourth major pharmaceutical partner. The goal of our
program is to provide partners with substantial value; clearly this
message is resonating with large pharmaceutical companies and is
establishing Gene Logic as a leader in drug repositioning."
Gene Logic Overview
Gene Logic technologies and services are used by many of the
world's top pharmaceutical and biotechnology companies. Over 150
organizations and government agencies have benefited from Gene Logic's
diverse portfolio of drug development services, enabling them to make
more informed, more reliable and more predictive decisions at each
point in the highly complex and costly drug development process. Gene
Logic currently has drug repositioning agreements with a number of
pharmaceutical companies. Gene Logic is headquartered in Gaithersburg,
Maryland, conducts additional research and development in facilities
in Cambridge, Massachusetts, and has customer support operations in
the U.S., Europe, and Asia. For more information, visit
www.genelogic.com or call toll-free - 1/800/GENELOGIC.