Research Triangle Park, North Carolina
August 11 2004
Norak Will Combine Its Transfluor® Technology,
High Throughput Screening Systems and Diverse Compound Library
to Discover GPCR-Based Active Ingredients
Norak
Biosciences, Inc. announced today the signing of a
collaboration agreement with BASF,
the world's leading chemical company, to utilize its Transfluor®
technology for the discovery of active ingredients against
selected G protein-coupled receptor (GPCR) targets. Under the
terms of the agreement Norak will employ its proprietary
Transfluor® technology to screen a selected portion of its
larger compound library against GPCR targets developed by BASF.
BASF is interested in further optimizing and developing
positive compounds from such screening for crop protection
products.
Financial
terms are not disclosed. However, Norak will receive technology
access and screening fees, as well as milestones and royalties.
"This is
our first such collaboration with a partner in the Agricultural
industry." commented Dr. Roger D. Blevins, Norak president and
CEO. “This type of collaboration demonstrates Transfluor®'s
value beyond pharmaceutical discovery.” Dr. Peter Eckes, Head of
BASF's Agricultural Products Research: “This cooperation with an
experienced partner will extend and strengthen our innovation
resources.”
Norak's
Transfluor® technology is a patented, universal GPCR drug
discovery technology designed to be the most direct and accurate
method for screening compound libraries against GPCR targets,
whether known or orphan. Transfluor® was licensed in 1999 by
Norak from technology developed at Duke University Medical
Center and represents the combined research into GPCR signaling
pathways over several decades by Norak's scientific founders,
Drs. Marc Caron, Robert Lefkowitz, and Larry Barak.
Norak Biosciences, Inc., headquartered in
Research Triangle Park, NC, is a private biotechnology company.
Norak is utilizing its proprietary Transfluor® technology to
become a world leader in the discovery and development of drugs
that regulate G protein-coupled receptors.
With sales of €3,176 million in 2003,
BASF's
Agricultural Products division is a leader in crop
protection and a strong partner to the farming industry
providing well-established and innovative fungicides,
insecticides and herbicides. Farmers use these products and
services to improve yields and quality of agricultural crops.
Other uses include public health, structural/urban pest control,
turf and ornamental plants. BASF aims to turn knowledge rapidly
into market success. The vision of BASF's Agricultural Products
division is to be the world's leading innovator, optimizing
agricultural production, improving nutrition, and thus enhancing
the quality of life for a growing world population.
BASF is the world's leading chemical company. Our
goal is to grow profitably and further increase the value of our
company. We help our customers to be more successful through
intelligent system solutions and high-quality products. BASF's
portfolio ranges from chemicals, plastics, performance products,
agricultural products and fine chemicals to crude oil and
natural gas. Through new technologies we can tap into additional
market opportunities. We conduct our business in accordance with
the principles of sustainable development. In 2003, BASF had
sales of about € 33 billion (circa $42 billion) and over 87,000
employees worldwide. |