Critical Outcome Technologies (COTI) has signed a drug discovery deal with an undisclosed pharmaceutical company to use its CHEMSAS drug discovery system for the identification of small molecules.
COTI will look after the discovery, profiling and optimization activities of the drug candidates.
Under the two step approach, COTI will identify and deliver early set of compounds discovered by means of CHEMSAS.
After the evaluation of the compounds by the pharmaceutical company, COTI will optimize the compounds.
COTI president and CEO Dr. Wayne Danter said, "This is another example of the agreements we are entering into to validate our technology and we look forward to having the opportunity of combining the drug candidates discovered by CHEMSAS with the proven capabilities of a major pharmaceutical company in order to address a substantial medical need."
The final optimized compounds will be tested by the pharmaceutical company for suitability of the molecules for the projected cellular target and end a license.
In case the licensing agreement is not reached, all the property rights to the data and compounds will be retained by COTI.
