Shenogen and Chemizon Announce Drug Discovery Collaboration Focused on Oncology and Endocrine Disorders

BEIJING & SEOUL, South Korea--(BUSINESS WIRE)--Shenogen Pharma Group and Chemizon, a division of Optomagic Co. Ltd. (KOSDAQ: 0101070) today announced a drug discovery collaboration agreement to create small molecule therapeutics targeting modulators of the ER-alpha 36 receptor.

“We are delighted that Shenogen, a world leader in the field of non-classical estrogen receptor signaling, chose Chemizon as their partner”

"We are very pleased to enter into this collaboration with Chemizon whose experienced management team has a track record of success in creating promising drug candidates," said Dr. Jin Li, President of Shenogen Pharma Group. "This collaboration underscores our commitment towards creating orally administered, small molecule modulators of the non-classical Estrogen Receptor pathway that target indications including metastatic breast cancer and osteoporosis.”

Chemizon will be responsible for a spectrum of activities for an integrated drug development program including lead optimization, assay development, ADME, DMPK, Computational chemistry, and animal pharmacology. Financial details of the transaction were not disclosed. "We are delighted that Shenogen, a world leader in the field of non-classical estrogen receptor signaling, chose Chemizon as their partner," said Dr. Anthony D. Piscopio, Chief Executive Officer, of Chemizon. "We expect the synergy resulting from this partnership will result in novel breakthrough therapies that will ultimately benefit patients afflicted with life threatening diseases.”

About Shenogen: Shenogen is a privately held drug development venture that develops novel therapeutics and companion diagnostic kits that are targeted at a novel membrane associated estrogen receptor, the ER-alpha 36. Shenogen leverages the ER-alpha 36 technology platform and proprietary biology assays, as well as lead compounds derived from traditional Chinese medicine to find drugs targeted at cancer stem cells. The Company is led by an exceptional team of US trained returnees with strong industry experience. Shenogen effectively adopts a virtual pharma strategy by collaborating closely with many US and China-based research and development partners. Shenogen has a pipeline of small molecule and antibody therapeutics, its lead compound for breast cancer has entered clinical stage.

About Chemizon: Chemizon is a Life Sciences company that is focused on the discovery and development of targeted therapies to treat patients afflicted with cancer, inflammatory and metabolic diseases. Our collaborative programs, which are designed to regulate clinically relevant target proteins, are aimed at large, growing multi-billion dollar world-wide markets. We have assembled, through in-house platforms and strategic partnerships, a fully integrated discovery capability from target identification through proof of concept clinical trials. We utilize a business model that blends service, collaboration, and partnered IP generation, to balance risk and create sustainability, ultimately enhancing our shareholders return on investment. For additional information, please visit us at www.chemizon.com.