Cyprotex (LSE: CRX) today announces a three-year agreement with Roche to provide services in support of Roche's drug discovery unit based in Basel, Switzerland.
Under the terms of the agreement, Cyprotex will perform studies that will provide key information to enable Roche scientists to assess whether their discovery compounds will reside in the body long enough and at sufficient levels to be effective as therapies. Cyprotex will provide information on the absorption, distribution, metabolism and elimination (ADME) properties of Roche compounds.
This new agreement between Roche and Cyprotex follows an eighteen-month period where the two companies have forged a successful relationship. Cyprotex will perform these analyses on a monthly basis for the next three years. The terms of the agreement provide scope for expansion of the relationship.
Commenting on the Roche agreement, Robert Morrisson Atwater, Chief Executive Officer of Cyprotex plc, said, "It is hugely gratifying that a leading pharmaceutical company such as Roche has recognised the value that Cyprotex brings to its drug discovery efforts. This agreement is our second long-term relationship with Roche and represents an important company milestone; it is a tribute to the high calibre of our scientific team and the quality of our science and business."
Torsten Hoffmann, Head of Discovery Enabling Sciences at Roche, commented, "We are extremely pleased with our established affiliation with Cyprotex who understand and address the needs of our drug discovery scientists. We have been impressed by Cyprotex's consistently high level of service and their flexibility to meet tight schedules and we look forward to a long and mutually beneficial working relationship."
For further information:
Robert Atwater, Chairman and Chief Executive
Tel: +44 (0) 1625 505100
Henry Harrison-Topham / Heather Salmond
Bankside Consultants Limited
Tel: +44 (0) 20 7444 4140