Glaxosmithkline to Evaluate Ambit Proteomescan™ Technology for Small Molecule Profiling
Ambit Will Use ProteomeScan™ Technology To Identify and Quantify Interactions Between Small Molecules And Human Kinases
San Diego, CA, March 4, 2003 - Ambit Biosciences (Ambit) today announced a technology evaluation agreement with GlaxoSmithKline (GSK) to characterize small molecule kinase inhibitors using Ambit's ProteomeScan™ platform. The work, which commenced in January, is focused on Ambit's ability to assess rapidly compound specificity by identifying protein interactions and determining binding affinities. Ambit's scalable "chemical proteomics" approach employs uniquely integrated reverse and forward screening assays to elucidate interactions that may be responsible for a compound's mechanism of action or side effects. The technology evaluation is aimed at enabling GSK to decide if the approach will, in the longer term, help develop safer and more effective new drugs.
"Ambit's partnership with GSK utilizes the full range of our ProteomeScan™ technology and will be an important validation of Ambit's ability to advance the drug discovery efforts of large pharmaceutical companies," said Scott Salka, CEO, Ambit. "We built a human kinase program to address the challenges inherent in developing kinase inhibitors with appropriate specificity."
About Ambit Biosciences Corporation
Ambit Biosciences is a private, San Diego-based corporation whose mission is to discover, develop, and commercialize new drugs through internal programs and in collaboration with pharmaceutical partners. Ambit uses ProteomeScan™, its proprietary reverse and forward screening technology, to discover interactions between small molecules and human proteins. These interactions identify previously unknown mechanisms of action, mechanisms that may be responsible for side effects, and novel targets that may lead to new uses for existing drugs or developmental compounds.