MercachemSyncom, Bionetix, and ProQinase ink AML contract

"We are excited to start this new project with MercachemSyncom and ProQinase," said Dr. DooYoung Jung, CEO of the Korean cancer drug developer Bionetix. "They have proven their quality in another project of ours, which is currently in the early development phase. When this new opportunity came up, our decision was quick and easy. We are convinced that the team will advance this program very efficiently.”

Under the contract, Bionetix, and oncology CRO ProQinase, which was recently acquired by Reaction Biology Corporation (Malvern/PA, USA) will collaborate with the chemistry and  medicinal chemistry specialist  Mercachem in drug discovery , starting from target identification (TI) up to clinical candidate selection on an undisclosed acute myeloid leukemia (AML) target. The goal of the multi-year collaboration is to advance the project to the clinical phase by 2023. The total investment sum is “significant, of multimillion euros”, but details were not disclosed.