ChemCodes Inc and VM Discovery Announce a Strategic Alliance to Increase Molecular Diversity, Accuracy and Speed of Small Molecule Drug Discovery

RESEARCH TRIANGLE PARK, N.C. and SILICON VALLEY, Calif., Aug. 18

Aug 18, 2003, 01:00 ET from ChemCodes Inc

/PRNewswire/ -- ChemCodes Inc, a chemistry-driven drug discovery company, and
 VM Discovery, Inc., a computational-driven drug discovery company, announce
 the establishment of a strategic alliance.  This alliance provides access to
 and leverages each firm's proprietary technologies.  The alliance will be used
 for ChemCodes' internal drug discovery programs, respective corporate
 partnership collaborations and for joint pursuit of selected drug discovery
 programs. Financial terms are not disclosed.
     "VM Discovery has built an excellent, proprietary portfolio of predictive
 models which are the backbone of their computational contributions to scaffold
 hopping, virtual design/screening of libraries and ADME TOX filtering that are
 highly effective with our platform and medicinal chemistry process of
 producing 'drug-like' leads and clinical candidates," indicates Bruce Scott,
 Chief Business officer for ChemCodes Inc.  Jie Q. (Jay) Wu, President and CEO
 of VM Discovery stated that "ChemCodes' drug discovery platform provides next
 generation technologies with Industry breakthrough capabilities in quality,
 speed, molecular diversity, and parallel processing for targeted libraries and
 combinatorial approaches."  "The combining of these two leading technologies
 will take us to a higher level of drug discovery capabilities and we are
 looking forward to working with VM Discovery," says John Didsbury, CEO and
 President of ChemCodes Inc.
 
     ChemCodes is a small molecule drug discovery company that has developed a
 proprietary high throughput medicinal chemistry discovery platform that
 provides benefits of quality, novel compound diversity and speed.  ChemCodes
 is using its world-class technology for internal clinical compound development
 and in collaborations with pharmaceutical and biotechnology companies to
 create enabling chemical synthesis solutions for the discovery and development
 of new medicinal compounds.  The company currently is working on programs for
 proprietary internal drug development in the therapeutic areas of Cancer,
 Diabetes, and Inflammation.  ChemCodes chemistry platform is pan-therapeutic
 and supports the company's primary strategy, the pursuit of fast follower
 products (novel analogues of marketed medicines) and compound renovation
 products (early discovery compounds requiring chemistry improvements).
 
     VM Discovery, Inc. ("VMD") is a privately held, venture-backed drug
 discovery company in Silicon Valley, California.  VMD has developed
 proprietary drug design and optimization technology (the "VM Optimizer(TM)"),
 based on integrated parallel multi-activity (potency and ADMET) modeling,
 optimization and virtual screening, to discover new and improved patentable
 small molecule drug leads.  Multiple products within each project developed
 using VM Optimizer(TM), through either "scaffold hopping" to find new chemical
 entities or "drug recycling" to identify new indications of known drugs, are
 not just more potent, selective but also with balanced ADMET (Absorption,
 Distribution, Metabolism, Elimination and Toxicity) properties.  VMD has been
 developing a dozen of internal in-silico drug discovery projects in various
 therapeutic areas, together with more than 15 in-house predictive in-silico
 ADMET models based on chemical structures. Its commercial clients have already
 validated some of these in in-vivo animal models of breast cancer and
 cardiovascular diseases. VMD has already signed several drug discovery
 collaboration deals with biotech and pharmaceutical companies in the US, Japan
 and China. For more information, please contact Dr. Jay Wu at 510-413-5168 or
 jay@vmdiscovery.com.
 
     For additional information, please contact Bruce Scott, Chief Business
 Officer, ChemCodes Inc at 919-641-2638 or bruce_scott@chemcodes.com.
 
 

SOURCE ChemCodes Inc
/PRNewswire/ -- ChemCodes Inc, a chemistry-driven drug discovery company, and
 VM Discovery, Inc., a computational-driven drug discovery company, announce
 the establishment of a strategic alliance.  This alliance provides access to
 and leverages each firm's proprietary technologies.  The alliance will be used
 for ChemCodes' internal drug discovery programs, respective corporate
 partnership collaborations and for joint pursuit of selected drug discovery
 programs. Financial terms are not disclosed.
     "VM Discovery has built an excellent, proprietary portfolio of predictive
 models which are the backbone of their computational contributions to scaffold
 hopping, virtual design/screening of libraries and ADME TOX filtering that are
 highly effective with our platform and medicinal chemistry process of
 producing 'drug-like' leads and clinical candidates," indicates Bruce Scott,
 Chief Business officer for ChemCodes Inc.  Jie Q. (Jay) Wu, President and CEO
 of VM Discovery stated that "ChemCodes' drug discovery platform provides next
 generation technologies with Industry breakthrough capabilities in quality,
 speed, molecular diversity, and parallel processing for targeted libraries and
 combinatorial approaches."  "The combining of these two leading technologies
 will take us to a higher level of drug discovery capabilities and we are
 looking forward to working with VM Discovery," says John Didsbury, CEO and
 President of ChemCodes Inc.
 
     ChemCodes is a small molecule drug discovery company that has developed a
 proprietary high throughput medicinal chemistry discovery platform that
 provides benefits of quality, novel compound diversity and speed.  ChemCodes
 is using its world-class technology for internal clinical compound development
 and in collaborations with pharmaceutical and biotechnology companies to
 create enabling chemical synthesis solutions for the discovery and development
 of new medicinal compounds.  The company currently is working on programs for
 proprietary internal drug development in the therapeutic areas of Cancer,
 Diabetes, and Inflammation.  ChemCodes chemistry platform is pan-therapeutic
 and supports the company's primary strategy, the pursuit of fast follower
 products (novel analogues of marketed medicines) and compound renovation
 products (early discovery compounds requiring chemistry improvements).
 
     VM Discovery, Inc. ("VMD") is a privately held, venture-backed drug
 discovery company in Silicon Valley, California.  VMD has developed
 proprietary drug design and optimization technology (the "VM Optimizer(TM)"),
 based on integrated parallel multi-activity (potency and ADMET) modeling,
 optimization and virtual screening, to discover new and improved patentable
 small molecule drug leads.  Multiple products within each project developed
 using VM Optimizer(TM), through either "scaffold hopping" to find new chemical
 entities or "drug recycling" to identify new indications of known drugs, are
 not just more potent, selective but also with balanced ADMET (Absorption,
 Distribution, Metabolism, Elimination and Toxicity) properties.  VMD has been
 developing a dozen of internal in-silico drug discovery projects in various
 therapeutic areas, together with more than 15 in-house predictive in-silico
 ADMET models based on chemical structures. Its commercial clients have already
 validated some of these in in-vivo animal models of breast cancer and
 cardiovascular diseases. VMD has already signed several drug discovery
 collaboration deals with biotech and pharmaceutical companies in the US, Japan
 and China. For more information, please contact Dr. Jay Wu at 510-413-5168 or
 jay@vmdiscovery.com.
 
     For additional information, please contact Bruce Scott, Chief Business
 Officer, ChemCodes Inc at 919-641-2638 or bruce_scott@chemcodes.com.
 
 SOURCE  ChemCodes Inc