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Compugen Discloses Diagnostic, Therapeutic-development Timelines for 06- 07

NEW YORK, Nov. 9 (GenomeWeb News) - Compugen expects to develop products during the next two years based on initial discoveries, the company's CEO said today at a conference.

 

Speaking at the Rodman & Renshaw Techvest 7th Annual Healthcare Conference, held here this week, Martin Gerstel said Compugen over 2006 and 2007 will be developing products based on the first wave of discoveries in immunoassay diagnostics, nucleic acid diagnostics, and therapeutic protein candidates. The company is also looking for a proof of concept for a new technology platform.

 

Product development agreements for immunoassay diagnostics, the company's most advanced product area, have already been signed with three diagnostic companies, such as BioSite.

 

Nucleic acid diagnostics are "about a year behind our immunoassay activities," said Gerstel. The company expects to negotiate nucleic acid development and commercialization agreements beginning in the second half of 2006.

 

Partners for therapeutic protein candidates will also be signed during the second half of 2006, according to Gerstel.

 

While focusing on product development in the next two years, Compugen will continue discovery activities targeted at cancer and cardiovascular diseases. A significant area of expenditure within R&D would focus on in vitro and in vivo activities for the therapeutic protein pipeline. The company also expects to demonstrate a proof of concept for a new platform that can be achieved within 9-12 months and addresses a bottleneck in drug discovery.

 

"The further development and commercialization of this new platform would be the subject of a major collaboration with a pharma or biotech partner," Gerstel said.

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