Cadus Licenses GPCRs Technologies to OSI

Cadus Pharmaceutical Corp. (New York) has licensed its yeast G-protein coupled receptors (GPCRs) technologies to OSI Pharmaceuticals Inc. (Uniondale, NY) on a non-exclusive basis. The technologies covered in the deal include various reagents, a library of over 30,000 yeast strains, and proprietary bio-informatics software. Financial terms of the license were not disclosed.

According to Charles Woler, president and CEO of Cadus, the licensed technologies can be used as a foundation to develop a rapid, cost-effective functional genomics and drug discovery platform to identify ligands for orphan GPCRs —GPCRs whose function is not known.

OSI Pharmaceuticals is a development-stage company that uses proprietary technology to discover drug candidates to treat cancer, chronic anemia, muscular dystrophy, HIV, neurological disorders, and diabetes.

Cadus Pharmaceutical Corp. develops drugs to treat diseases caused by signal malfunctions between and within human cells.

For more information: Charles Woler, President and CEO, Cadus Pharmaceutical Corp., 767 5th Ave., 47th Fl., New York, NY 10153. Tel: 212-702-4366. Fax: 212-750-5828.

Edited by Jim Pomager