Amylin invests $10M in BioSeek
BioSeek, based in Burlingame, will work with San Diego-based Amylin (NASDAQ: AMLN) on treatments for inflammatory diseases. The work will put Amylin’s proprietary drug compounds through BioSeek’s biological screening systems to seek useful drugs. BioSeek can choose two peptide compounds after screening and develop them if it wishes, paying milestones and royalties to Amylin if it does.
The two companies signed an earlier collaboration last year.
Peter Staple, BioSeek’s CEO, praised the deal as a source of money for his company, as well as a way to gain access to important compounds and research in inflammatory diseases.
