February 14, 2011
Emerald signs crystallography initiative with Pharmasset, Inc.
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Bainbridge Island, WA. February 15th, 2011. Emerald BioStructures has initiated a crystallography initiative with Pharmasset, Inc. The goal of the milestone-based project is to crystallize a novel macromolecular complex that has not been previously described. The collaboration provides Pharmasset access to Emerald’s high throughput protein crystallization pipeline and expertise in protein engineering and solving de novo X-ray crystal structures. “After evaluating several vendors, we chose to collaborate with Emerald because of the quality of scientists working there and their proven ability to crystallize and solve novel and difficult structures similar to those of interest to our research team,” said Ralph Mosley, Head of Computational Chemistry at Pharmasset.
“We are excited about the opportunity to potentially provide additional insight into the mode of action of Pharmasset’s exciting compounds and enhance their medicinal chemistry and discovery efforts,” said Lance Stewart, CEO Emerald BioStructures.
About Emerald BioStructures:
Emerald BioStructures is an integrated gene-to-structure collaborative research organization specializing in drug discovery services. Emerald operates an efficient high-throughput platform leveraged for fragment-based lead discovery and structure-based drug design. We provide enabling structural insight for breakthrough drugs that are highly selective and efficacious against chosen targets.
About Pharmasset
Pharmasset is a clinical-stage pharmaceutical company committed to discovering, developing, and commercializing novel drugs to treat viral infections. Pharmasset's primary focus is on the development of oral therapeutics for the treatment of hepatitis C virus (HCV). The company’s research and development efforts focus on nucleoside/tide analogs, a class of compounds which act as alternative substrates for the viral polymerase, thus inhibiting viral replication. We currently have three clinical-stage product candidates. RG7128, a cytosine nucleoside analog for chronic HCV infection, is in two Phase 2b clinical studies in combination with Pegasys® plus Copegus® and is also in the INFORM studies, the first series of studies designed to assess the potential of combinations of small molecules without Pegasys® and Copegus® to treat chronic HCV. These clinical studies are being conducted through a strategic collaboration with Roche. Our other clinical stage HCV candidates include PSI-7977, an unpartnered uracil nucleotide analog that is currently dosing in two phase Phase 2b studies in patients with HCV genotypes 1, 2, or 3, and PSI-938, an unpartnered guanosine nucleotide analog which recently completed a 14-day monotherapy study and has recently initiated a 14-day combination study with PSI-7977. We also have in our pipeline an additional purine nucleotide analog, PSI-661, in advanced preclinical development.
Pharmasset Forward-Looking Statement
Pharmasset "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release that are not historical facts are "forward-looking statements," that involve risks, uncertainties, and other important factors, including, without limitation, the risk of cessation or delay of any of the ongoing or planned clinical trials and/or our development of our product candidates, the risk that the results of previously conducted studies involving our product candidates will not be repeated or observed in ongoing or future studies involving our product candidates, the risk that our collaboration with Roche will not continue or will not be successful, and the risk that any one or more of our product candidates will not be successfully developed and commercialized. For a discussion of risks, uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended September 30, 2010 filed with the Securities and Exchange Commission and discussions of potential risks, uncertainties, and other important factors in our subsequent filings with the Securities and Exchange Commission.
Contact:
Emerald BioStructures:
Lance Stewart, CEO
(206) 780-8911
lstewart@embios.com