Icagen and Omdana Therapeutics Announce Collaboration to Pursue Therapies for Patients with Pulmonary Hypertension

DURHAM, N.C., June 20, 2017 /PRNewswire/ -- Today Icagen, Inc. and Omdana Therapeutics, Inc. announced a collaboration to help advance the discovery of novel medicines for disorders related to tissue homeostasis and vascular remodeling such as pulmonary hypertension.  Omdana, a company co-founded by pharma veterans Drs. Christopher VanDeusen and Steve Ledbetter, will partner with Icagen as an integrated drug discovery team with the goal of developing high-quality, advanced leads ready for clinical trials.  

"Omdana is venturing into this program because therapies are needed that can truly address underlying tissue and vascular remodeling," said Dr. VanDeusen. "Icagen represents an ideal partner for moving from target to lead in a timely manner.  Icagen's scientific team and their breadth of experience and capabilities are second to none."

"Icagen is pleased to partner with Omdana Therapeutics on this important project," said Richie Cunningham, President & CEO of Icagen.  "The Omdana co-founders also bring years of pharma experience and know-how for making successful drug candidates.  Together we believe that we can make a nimble team of drug discoverers ready to advance compounds at a pace that we expect will beat the industry average."

About Omdana Therapeutics
Omdana Therapeutics seeks to discover and develop transformative therapies for patients with dysregulated tissue homeostasis and vascular remodeling in areas such as Pulmonary Hypertension and Heart Failure.  Early efforts are focused on agents that affect Relaxin pathway signaling, a key regulatory mechanism.  Leveraging extensive management experience in Drug Discovery and Development, Omdana accelerates the Drug Discovery Process through external partnerships with recognized domain expertise.

About Icagen, Inc.
Icagen partners with global pharmaceutical and biotech companies to generate high-quality, advanced leads. As a focused Target-to- Lead (T2L) company, Icagen works with collaborators in multi-year, integrated drug discovery programs. Born from a biotech background and matured by pharma companies, Icagen brings to partners a North American team with over 20 years of experience in early discovery. 

Icagen scientists have vast experience in target-based drug discovery, including ion channels, kinases, GPCR's and transporters. The Icagen team works with collaborators to determine target feasibility using state-of-the-art computational chemistry methods. Once a target is selected, the team combines virtual screening, ultra-high throughput screening (uHTS), biology and medicinal chemistry to generate viable leads in an iterative process.  For more information email [email protected]

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements the goal of developing high-quality, advanced leads ready for clinical trials belief that we can make a nimble team of drug discoverers ready to advance compounds at a pace that we expect will  beat the industry average.  The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in the Company's forward-looking statements include, among others, our ability to successfully deliver drug discovery services and advance compounds to the clinic, the continued growth of the market for our services and the other factors described in our Annual Report on Form 10-K for the year ended December 31, 2016, and our other filings with the SEC. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

For further information, contact:

Chris Mathes, Ph.D.
Chief Commercial Officer
Icagen, Inc.
Tel +1 (919) 941-5206
Email [email protected]

Christopher VanDeusen, Ph.D.
President
Omdana Therapeutics, Inc. 
Tel +1 (508) 202-5373
Email: [email protected]

SOURCE Icagen, Inc.