Peakdale agreement with GSK

UK company Peakdale Molecular has announced the signing of an agreement with GlaxoSmithKline (GSK) for the provision of synthetic chemistry services directed at certain GSK drug discovery targets.

Under the terms of the agreement Peakdale will provide synthetic chemistry services and expertise for the generation of low molecular weight drug-like compounds, arising from GSK's pioneering work within its Respiratory and Inflammation Centre of Excellence for Drug Discovery.

Dr Ray Fisher, commercial director and founder of Peakdale, commented: 'We are delighted to have been chosen to support GSK following a number of years supplying novel building blocks, which have been incorporated into drug discovery programmes.'

Peakdale's continuing expansion was highlighted by the official opening of the facility in Chapel-en-le-Frith by the UK minister for science and innovation, Lord Sainsbury. It will mean that the number of chemists employed is likely to rise to 40 by Easter 2003.

Gareth Jenkins, business development manager, said: 'The agreement with GSK is part of our continuing growth. We have contracts with six biotech companies this year, and the collaboration with exchem has led to a number of compounds being scaled up to multi-kilo levels.

'The modular design of the building, with each laboratory being a self-run business unit, means we are in a position to enter into contracts with companies whereby they take over a laboratory, and direct the overall project, while we run the day-to-day business.'