@ Scripps expands partnership with pharmaceutical firm | SEBIO

Scripps expands partnership with pharmaceutical firm

Posted by on Mar 13, 2013

JUPITER, FL – The Scripps Research Institute in Jupiter has expanded its research partnership with Takeda Pharmaceutical Co.

The nonprofit initially signed a deal in 2010 with Jupiter-based Envoy Therapeutics, which was acquired by Tekeda Pharma in November. The company is using Scripps’ rapid drug screening robot to search for new drugs for neurological and psychiatric diseases.

“We originally came to Jupiter because of Scripps Florida and are thrilled that the potential of our original collaboration has been realized,” Envoy Senior VP of drug discovery Stephen Hitchcock stated in a news release. “Now we’re moving into new therapeutic areas with different biological targets. The first step is to find small molecules that can validate those targets—and Scripps Florida is amongst the very best places to do that.”

Peter Hodder, who leads the collaboration on Scripps’ side, said that Envoy’s collaboration with Scripps resulted in the discovery of a drug-like compound that shows potential as a treatment for Parkinson’s Disease, which is one of the reasons the start up company was acquired by Tekada in a deal worth up to $140 million.

“In two years it’s almost unheard of to go from a company founding to having clinically relevant material,” Hodder said. “More importantly, these compounds now have life and they will hopefully help someone’s life.”

Hodder said the new deal with Tekeda includes increased funding for Scripps.

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