CAMPBELL, Calif.--The collaborative discovery division of Oxford Molecular Group, in a contract with Cambridge Combinatorial, announced that it will undertake a research program in drug discovery with Mitsubishi Chemical. The program aims to identify novel lead compounds for the treatment of metabolic disorders and utilizes the molecular design, medicinal chemistry, and combinatorial chemistry expertise of both companies. Mitsubishi will pay Oxford and Cambridge an undisclosed upfront payment, ongoing research fees, research milestones, and success payments in the drug development process, in addition to royalties on any compounds that are commercialized. Oxford also announced that it has invested £2.5 million in MicroGenics, a new company that will develop screening systems for novel antimicrobials.
OxMol Collaborates With Mitsubishi on Discovery
Dec 18, 1998