MDS and Iconix to Advance Chemogenomics Information System

MDS Pharma Services, a subsidiary of MDS Inc., and Iconix Pharmaceuticals, a California-based biotechnology company, formed a strategic alliance to advance a novel chemogenomics information system for drug discovery and development in the emerging field of chemogenomics. The system, DrugMatrix™, integrates genomic, biological, chemical, pharmacological and pharmacokinetic information to assist pharmaceutical and biotechnology companies to understand the molecular basis for a drug’s efficacy and predict potential toxicity and other side effects. The value of the deal is undisclosed.

Under the terms of the alliance, MDS Pharma Services made an equity investment in Iconix and committed other funds to the development of DrugMatrix. The parties agreed to combine their respective technologies and expertise for the development of DrugMatrix. The DrugMatrix system will be commercialized by Incyte Genomics, Inc., a leading genomic information company. The transaction was completed on December 12, 2001.

Peter Brent, senior vice-president and general counsel, MDS Inc., was assisted by Fasken Martineau DuMoulin LLP, with a team that included Scott Conover (corporate), Mark Fecenko (biotechnology) and Kevin Pillay and Joe Conneely (patents). MDS Inc. received U.S. legal advice from Pandora Strasler and Tom Stromberg Jr., of Heller Ehrman White & McAuliffe LLP. Iconix was represented by Brian Burr (biotechnology) and Geoffrey Leonard and David Boudreau (corporate) of Orrick, Herrington & Sutcliffe LLP.