NEW YORK, Dec. 13 - Paradigm Therapeutics, of Cambridge, UK, has signed a three-year collaboration with Swedish biopharma Medavir, to discover new protease drug targets, the company said Friday.
Paradigm, a spinout from the Universityof Cambridge, uses transgenic mouse technology, along with bioinformatics and other molecular biology methods, to determine the biological function of novel human proteins encoded by the genome, in order to find new drug leads. Earlier this week, the company raised £12 million ($19.1 million) in a second round of private financing.
Medavir, of Huddinge, Swedenand Cambridge, UK, will offer its protease inhibitor drug discovery know-how, and its compound libraries, to the collaboration.
The partners plan to identify up to six novel proteases, and develop small-molecule protease inhibitor drugs, for either commercialization or out licensing. They did not disclose financial terms of the agreement.