NEW YORK, March 14 (GenomeWeb News) - Procter & Gamble Pharmaceuticals will retain some of its genomic-related alliances and end others after the company late last month decided to shutter its internal drug-discovery program, GenomeWeb News has learned.
"We are currently evaluating all of our discovery contracts," P&G spokesperson Tom Milliken said in an email message to GenomeWeb News today. "Some of them will remain open as originally planned, and others will not, depending upon the value that each adds to our new strategy." P&GP spokeswoman Paula Koenigs said the company's new strategy involves moving out of drug discovery and into external licensing agreements and drug acquisitions.
P&GP has many R&D collaboration with various genomic-related tool vendors. However, the company could not specify which would be affected by the closure.
The shuttered program means lost opportunities for existing collaborators, potential future allies, or past partners, such as Inpharmatica, which delivered model GPCRs last year to P&GP. The company last week said P&GP's decision closed the door for lead-optimization deals. "We could have expanded," said Vinod Mehta, senior vice president of business development at Inpharmatica. "Those opportunities in lead-optimization were affected."