26 February 2005

ChemOvation reaches agreement with KuDOS Pharmaceuticals to spin-off

ChemOvation announces that it has reached agreement with KuDOS Pharmaceuticals to spin-out as an independent drug discovery services business. The company is now in a stronger position to focus exclusively on meeting the needs of its growing number of customers who look to outsource all or part of their drug discovery programme.

Founded by Dr. Matthews in 1999, ChemOvation was acquired by KuDOS in 2001. The company has grown successfully over the last four years and has developed as a chemical research organisation through collaboration with KuDOS.

For more information please contact:

ChemOvation
Dr Ian Matthews
Tel: +44 (0)1403 276500

NOTES TO EDITORS

About ChemOvation

ChemOvation is a leading provider of drug discovery services to the pharmaceutical and biotechnology industry. It provides a fully integrated service specialising in medicinal chemistry, organic chemistry, computational chemistry and screening. ChemOvation offers clients a wealth of scientific knowledge and expertise to ensure success in their drug discovery projects. Whether it’s for lead optimisation, hit expansion or custom synthesis, ChemOvation provides a complete outsourcing service for drug discovery.