NEW YORK (GenomeWeb) – KineMed and Camino Partnership today announced that they are partnering in an effort to acquire new drugs and targeted drug candidates for potential licensing opportunites.
According to the partners, KineMed plans to apply its proteomics technology in rapid proof-of-concept studies on up to six compounds over a three-year period and then out-license appropriate candidate drugs to pharmaceutical companies.
Initially, the effort will focus on drugs for oncology, neurodegenerative disorders, muscle wasting, and fibrosis diseases, the companies said.
KineMed's technology uses wide-scale isotopic labeling and mass spectrometry to track protein activity kinetics. According to the company, its platform has a "unique ability to measure the effects of drugs on the production and destruction of key molecules involved in health and disease-modifying biological processes."
“By partnering with Camino we are executing on our strategy to produce a pipeline of high-value drug candidates rapidly by leveraging the strength of our dynamic proteomics platform with Camino’s financial support and extensive global experience in developing drugs” Patrick Doyle president of KineMed, said in a statement.
Financial details of the agreement were not disclosed.