NORTH BRUNSWICK, N.J., June 17 /PRNewswire/ -- Provid Pharmaceuticals Inc. of North Brunswick, NJ, entered into a collaborative research agreement with Immune Control Inc. of West Conshohocken, PA, for the development of lead compounds for diseases with immunological causes.
Provid will employ its expertise in structure-based design, peptide mimetics technology, and medicinal chemistry to develop the lead compounds. "We are pleased to be complementing the biology of Immune Control with Provid's chemistry. This collaboration exemplifies the value of Provid's drug discovery services in transforming targets into valuable drug candidates," comments Dr. Gary Olson, President & CEO of Provid. "We very much look forward to our collaboration with Provid, whose experience and expertise is so well-suited to our needs," said Dr. Steven Roth, President & CEO of Immune Control. Financial terms of the agreement were not disclosed.
Provid Pharmaceuticals Inc. is a drug discovery company engaged in the identification of novel lead compounds for pharmaceutical development and providing expert collaborative research services to the biotech and pharmaceutical industries. Provid offers expert capabilities in medicinal chemistry, structure-based drug design, lead optimization, as well as protein biochemistry and assay development. Provid is also recognized as a world leader in peptide mimetics technology. The company applies its expertise to collaborations and internal programs in autoimmune diseases including multiple sclerosis, rheumatoid arthritis, and celiac disease.
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 regarding Provid's future activities and the potential for discovery of drug compounds, and involves a high degree of material risks and uncertainties. Many possible factors could affect future results and performance of Provid's research and development activities, and ability to develop pharmaceuticals based on the company's technology. If Provid's efforts fail to perform as expected, or if any of a wide range of other risk factors is encountered and not surmounted, the company's financial condition and operating results may be materially and adversely effected.
Provid Pharmaceuticals Inc.
CONTACT: Patrick Chang, VP, Marketing & Business Development, of ProvidPharmaceuticals Inc., +1-732-565-1101