October 18, 2010 13:30 ET

ChemRar High-Tech Center Announces Starting of Discovery Collaboration With the Largest Major Pharmaceutical Company on the Russian Market

MOSCOW--(Marketwire - October 18, 2010) -  ChemRar High-Tech Center of Moscow, Russia, and its Chemical Diversity Research Institute (CDRI) announced the start of a major discovery collaboration with Novartis. The collaboration will run for an initial three year period with an option for Novartis to extend the term and an option to expand the scope of the collaboration to include additional drug discovery targets. Under the terms of the agreement, CDRI will receive R&D funding and is eligible for milestone payments.

Nikolay Savchuk, Chairman of CDRI, commented: "We are delighted and proud that Novartis recognizes the creativity of our integrated discovery approach based on our strong chemistry heritage and expertise in several therapeutic areas. We look forward to working with Novartis scientists in the US and Europe and to contribute innovative research to Novartis' research programs."

About ChemRar Hi-Tech Center
ChemRar High Technology Center (ChemRar), Moscow, Russia, is a unique research complex establishing and supporting biotech and contract research companies in development and commercialization of a new generation of innovative drugs. ChemRar business incubator offers state of the art life science capabilities and services, infrastructure, financing and program management; facilitated access to leading research scientists, institutes, and collaboration networks.

About Chemical Diversity Research Institute (CDRI)
Chemical Diversity Research Institute (CDRI), Moscow, Russia -- is a wholly owned subsidiary of ChemDiv, an integrated contract research organization (CRO) focused on pre-clinical and clinical R&D from target identification to clinical candidate nomination, proof of concept in human and market registration. CDRI sees its mission in enabling the discovery and development of innovative therapies for unmet needs utilizing the highest expertise and innovation potential of Russian scientists with integrated external R&D solutions of Discovery outSource™ platforms. Since 1990 we have provided quality R&D services in Virology, CNS, oncology, inflammation, CV and metabolic disease and other areas to our pharma and biotech partners.

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