iNovacia announces collaboration with Agios Pharmaceuticals

2012-01-27

iNovacia AB, the provider of small molecule drug discovery services, today announced that it has entered into a high-throughput screening collaboration with Agios Pharmaceuticals, Cambridge (MA), USA.

Under the agreement, iNovacia will provide small molecule lead generation services and use its proprietary screening library to identify modulators of pharmaceutical targets of interest to Agios Pharmaceuticals. Financial terms of the agreement are not disclosed.

Dr. Thomas Olin, CEO of iNovacia comments the collaboration: “We have had successful screening projects with Agios in the past and we are now proud to be able to extend this relationship. We are pleased that Agios and other US and European companies continue to appreciate the value of our premium screening operations and proprietary screening library as a mean to generate high quality chemistry starting points”.

About iNovacia
iNovacia provides high-throughput screening (HTS), fragment-based screening (FBS) and other drug discovery services to translate targets into validated leads for pharmaceutical and biotech companies. Enabled by a proprietary 300,000 compound library of highest international standard, unique biophysical tools for characterization of mode-of-action and structure-activity relationships, iNovacia mitigates technical risk, minimizes lead-time and optimizes quality of drug discovery projects. iNovacia is a wholly owned subsidiary of Kancera AB (Nasdaq OMX Stockholm First North, KAN).

About Kancera AB (publ)
Kancera develops small molecules starting with new treatment concepts and ending with a drug candidate. Kancera is currently running two projects, one to develop a treatment for leukemia and one project targeting cancer’s ability to generate energy in order to survive. Kancera also develops cancer models that allow the effect of the candidates to be studied before clinical trials are started. These models and techniques will be offered to third parties in order to further strengthen relations with the established industry and create future cost coverage for our own project development. Kancera’s operations are run at Pharmacia’s former premises at Kungsholmen in Stockholm. Kancera expects to employ around 20 people in 2011. The share is traded at NASDAQ OMX First North. The number of shareholders is approximately 1000. Remium AB is the Certified Adviser to Kancera.

For further information please contact:
Dr. Thomas Olin, VD, 46 (0)73-520 40 01

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