deCODE biostructures, Inc announces the successful completion of a research collaboration with the delivery of structure milestones to Mitsubishi Tanabe Pharma Corporation (MTPC) against an undisclosed novel target. deCODE biostructures also announces the extension of this research collaboration to include fragment screening for hit identification using deCODE's Fragments of Life library. The expansion of the collaboration provides Mitsubishi Tanabe Pharma Corporation access to deCODE's unique hit identification programme, computational chemistry, and high throughput crystallography resources. Further details and financial terms were not disclosed.

"The high resolution X-ray crystal structures provided by deCODE have provided insight for Mitsubishi Tanabe Pharma Corporation to progress its structure-guided drug development programme in an important disease area. We are delighted to have now extended our collaboration to the next level with deCODE through its lead discovery platform," said Dr Yasuhisa Matsukawa, senior manager, Research Strategy & Planning Department of Mitsubishi Tanabe Pharma Corporation.

"As one of the leaders in fragment based lead discovery, we are delighted to have the opportunity to aid Mitsubishi Tanabe Pharma Corporation in their important work to identify and optimize compounds for various therapeutic areas," stated Lance Stewart, president of deCODE biostructures. "Our Fragments of Life technology represents a novel approach to expand intellectual property and identify new ligand architectures with high ligand efficiency. Mitsubishi Tanabe Pharma Corporation has a long and successful history in the development of innovative new medicines. We are pleased that Mitsubishi Tanabe Pharma Corporation has further expanded the collaboration with deCODE biostructures in structure-based drug discovery. We are committed to foster additional partnerships with the Japanese pharmaceutical research community."

Mitsubishi Tanabe Pharma Corporation (MTPC) is a research-driven global biopharmaceutical leader based in Japan, specializing in research, development and marketing of globally competitive pharmaceutical products focused on cardiovascular and metabolic disorders, and immune and inflammatory diseases.

deCODE chemistry, Inc & deCODE biostructures, Inc, are wholly-owned subsidiaries of deCODE genetics providing contract research services to world-class pharmaceutical companies, biotechnology companies, academic institutions, and government facilities.