SAN DIEGO and SAFFRON WALDEN, United Kingdom, July 14, 2020
SAN DIEGO and SAFFRON WALDEN, United Kingdom, July 14, 2020 /PRNewswire/ -- Invivoscribe, Inc., an industry pioneer and global leader in the field of precision diagnostics announces the launch of a fully integrated drug development engine. This new engine will combine with its in-house expertise in diagnostics development and worldwide access to patients and clinical testing capabilities to accelerate drug development.
Invivoscribe's therapeutics division also announced today that the company has in-licensed technology involving a preclinical molecule and associated small molecules from Domainex Ltd. Domainex is a rapidly growing, well established integrated drug discovery service company in the UK that has utilized its novel, proprietary technologies to develop a first-in-class small molecule program against a difficult to target enzyme. Under the license agreement, Invivoscribe will develop and commercialize certain molecules generated by Domainex as oral immunotherapy agents to treat hematological malignancies, including acute myeloid leukemia. The overall financial aspects of the deal include an upfront payment and subsequent milestone payments based on various phases of drug development, regulatory submission and commercialization, including royalties on the resulting commercial products.
"The launch of Invivoscribe Therapeutics was an obvious next step for Invivoscribe. We have assembled an extraordinary team of drug development experts with decades of experience leading discovery, preclinical development, and directing pharmaceutical sciences. They are well versed in taking small molecules through all phases of candidate selection into human trials. They've joined our diagnostics, bioinformatics, and regulatory teams that have years of experience using our tests to assist pharma companies in getting their drugs approved worldwide, and our international network of LabPMM clinical laboratories with ready access to oncology patients. All of our interactions with Domainex have been extremely positive and we are impressed with the molecules they have discovered," said Jeffrey Miller, CSO & CEO of Invivoscribe.
Dr. Tom Mander, CEO of Domainex, added, "This license agreement reflects the extensive capabilities of Domainex to generate molecules with therapeutic potential. We are delighted that Invivoscribe has decided to invest in moving the program through drug development ultimately to approval and commercialization. This deal is in keeping with our strategy to grow rapidly our drug discovery service business to enrich the pipelines of our partners. I want to thank all of our scientists who have worked on the program and acknowledge the support we have received along the way. I wish Jeff and his team every success with the program and the launch of their new division."
Invivoscribe has been Improving Lives with Precision Diagnostics® for more than twenty-five years, advancing the field of precision medicine by developing and selling standardized reagents, tests, and bioinformatics tools to more than 700 customers in 160 countries. Invivoscribe also has a significant impact on global health working with pharmaceutical companies to accelerate approvals of new drugs and treatments by supporting international clinical trials, developing, commercializing companion diagnostics, and providing expertise in both regulatory and laboratory services. With its proven ability to provide global access to distributable reagents, kits, and controls, as well as clinical trial services through our international clinical lab subsidiaries (LabPMM), Invivoscribe has demonstrated it is an ideal partner. For additional information please contact Invivoscribe at: email@example.com or visit: www.invivoscribe.com.
Domainex is a leading, award-winning integrated medicines research service partner working with ambitious life science organisations from around the globe. We have been setting new standards in research since 2001, working collaboratively with pharmaceutical and biotechnology companies, patient foundations and leading academic institutions.
We provide innovative and customised biology and chemistry services to advance the disease research projects of our partners, from target expression to pre-clinical development candidate nomination. Working with Domainex maximises the chance of successful progression for our partners' research and our approach consistently saves up to 30% of the time needed to discover new medicines by comparison with the industry average. Our innovative science and extensive technical capabilities enable us to produce novel medicines to treat diseases with strong commercial potential. We work closely and collaboratively with our clients to understand their aspirations, bringing our ideas, know-how and wealth of experience to bear on their projects.
Our highly qualified and experienced team of dedicated research scientists has an unrivalled breadth of knowledge, access to a wide range of technologies and a proven track record of successful innovation in solving research challenges including being named on over 60 patent applications and the invention of numerous candidate drugs. We aim to deliver successful outcomes efficiently and quickly, setting the highest possible benchmark in medicines research.
Full information about Domainex and our award-winning services can be found at www.domainex.co.uk.