CHARLOTTESVILLE, Virginia and CAMBRIDGE, Massachusetts, March 26, 2013 /PRNewswire/ --
DART Therapeutics Inc., an innovative, new-model biotechnology firm focused on developing therapies for Duchenne muscular dystrophy (DMD), and Biovista, a leader in systematic drug repositioning, announced today that they have entered into a research collaboration to identify and develop novel drug repositioning candidates for DMD using Biovista's Clinical Outcome Search Space (COSS)™ technology. Under the terms of the agreement, Biovista will identify novel repositioning candidates and DART Therapeutics will have the option to select a certain number for further development. The terms of the agreement include an upfront and downstream success payments.
"Drug repositioning is a major approach in our overall strategy to identify novel treatments for DMD as efficiently as possible," said Gene Williams, chief executive officer of DART Therapeutics. "Biovista and the COSS technology are leaders in systematic repositioning, ensuring for us the broadest possible coverage of repositioning opportunities that can have real impact for patients and their families awaiting treatment for DMD."
"DART Therapeutics represents a unique model, being the development arm of a major patient advocacy group. Their leadership in DMD is an excellent compliment to our drug repositioning capabilities," said Aris Persidis, President of Biovista. "We believe that these types of collaborations are indicative of stakeholders looking to develop therapies in a novel manner that more directly addresses their specific needs, and we look forward to working with DART Therapeutics."About Biovista Biovista is a privately held biotechnology company that finds novel uses for existing drugs and profiles their side effects using their mechanism of action. Biovista develops its own pipeline of drugs in CNS, oncology, auto-immune and rare diseases. Biovista is collaborating with biopharmaceutical companies on indication expansion and de-risking of their portfolios, with the FDA on adverse event prediction, and with Patient Advocacy Groups using drug repositioning. ( http://www.biovista.com). About DART Therapeutics