Wyeth has agreed to take on all of Karo Bio’s future R&D activities under the companies’ drug discovery collaboration, beginning September 1, 2009. The collaboration aims to identify and select development candidates for treatment of inflammatory diseases, focusing on the liver X receptor (LXR) as target receptor. The two companies entered the collaboration in 2001.
“We are pleased that this exciting LXR program continues within Wyeth. Since Wyeth will perform all future research and development, Karo Bio will not put any more internal Resources into the project and will therefore not receive any further research funding from Wyeth. However, the Collaboration, Research and License Agreement between the companies shall remain in effect,” said Per Olof Wallström, president and chief executive officer of Karo Bio.
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