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Pharmacopeia Drug Discovery Inc. (Nasdaq: PCOP) and Organon (15977549) have entered into a new alliance for the discovery, development and commercialization of therapeutic indications in neuroscience and immunology. The terms of agreement include the following:

• Pharmacopeia will receive an up-front payment of $15 million and additional payments in research funding over the five-year term of the research portion of the alliance.
• Both Organon and Pharmacopeia will work collaboratively to generate development compounds addressing targets of mutual interest by taking advantage of the complementary discovery skills and expertise of each company.
• The goal is to produce compounds ready to enter development which will be primarily handled by Organon.
• The agreement provides Pharmacopeia the option to co-develop and co-commercialize therapeutic candidates discovered through the alliance.

Pharmacopeia is an innovator in the discovery and development of novel small molecule therapeutics while Organon is the human healthcare business unit of Akzo Nobel (Nasdaq: AKZOY).

The two companies have a history of more than ten years of research collaboration.

Find more details about their newest agreement from the press release.