Exelgen Ltd, a wholly owned subsidiary of Commonwealth Biotechnologies, Inc. (CBTE), announced that the company has partnered with two leading European-based Biotechnology companies. However, because of the proprietary nature of this collaboration, both companies have declined to be identified or disclose the contract values.
Because both companies are focused on a plethora of research activities, this partnership was advantageous for Exelgen. Such research activities include medicinal chemistry research and changes to Exelgen’s LeadHopping technology.
Mark Warne, Managing Directer of Exelgen, specified, “The decision by these premiere biotechnology companies to select Exelgen as their drug discovery partner underscores the quality of our work, the innovation we bring to our partners and our solid reputation for success in this field. As we enter 2008, we are committed to expanding our capabilities to provide clients an integrated drug discovery platform from hit identification up through IND enabling studies. We are currently engaged in more high value discovery research programs than ever before, and we look forward to generating excellent results for our clients.”
Dr. Paul D’Sylva, CEO of Commonwealth, added, “These contract signings underscore Exelgen’s ability to attract and retain high quality clients and high value contracts. Since joining CBI in mid year, Exelgen has won and reported several new contracts with major pharmaceutical clients, such as Schering Plough and Elan. These contracts position Exelgen and CBI for continued strong growth going into 2008.”
Let us hear your thoughts below: