Ron Demuth of ChemDiv announces extension of collaboration with Lilly

ChemDiv, Inc. announced the expansion of its drug discovery collaboration with Eli Lilly through 2010. Under the terms of the agreement, the partners will identify and develop leads for an additional therapeutic target using ChemDiv's small molecule resources (the industry's largest commercial collection) and Discovery outSource™ drug discovery and development platforms.

The extension of the Lilly collaboration builds on a successful partnership begun in January 2004. In the course of this collaboration, ChemDiv has worked with Lilly to discover and develop leads and research tools across multiple therapeutic areas. With this agreement, Lilly secures continued access to ChemDiv's Discovery outSource™ services for pre-clinical and clinical development; with expertise in CNS, oncology, inflammation and metabolic disorders. The therapeutic target and financial terms were not disclosed.

"We are pleased to extend our successful collaboration with Lilly with a new therapeutic target," said Ron Demuth, Senior VP of ChemDiv. "We are delighted to have this opportunity to deliver superior value for our partner's R&D portfolio."