Sharp Edge Labs gains rights to compound library

USA-based privately-held drug developer Sharp Edge Labs has entered into a drug discovery collaboration agreement with Japan’s Sumitomo Dainippon Pharma (TYO: 4506), with the news sending the latter’s shares up 2.24% to 2,055 yen.

As part of the collaboration, Sumitomo Dainippon Pharma will make its proprietary compound library available to Sharp Edge Labs for use in its drug discovery platform with a goal of identifying lead compounds and potential development candidates for neurodegenerative disorders. No financial terms of the collaboration were revealed.

Sumitomo Dainippon's library has been specifically chosen to maximize blood-brain barrier penetration, increasing the chances that any small molecule lead discovered in the collaboration will have access to the central nervous system (CNS). Sharp Edge’s proprietary biosensor platform will be used to screen for and identify compounds that can correct a trafficking defect known to be involved in several neurodegenerative diseases. Sharp Edge will use its technology to further characterize the cellular mechanism of potential lead compounds including assessing their activity in cells from patients.