LONDON (Alliance News) - Horizon Discovery Group PLC Wednesday said one of its subsidiaries has won a contract with an unnamed top-ten pharmaceutical company to profile a lead oncology asset.
Horizon said its HorizonCombinatoRx arm will be paid USD450,000 for the work, which is to be completed over a six-month period.
Horizon said it will provide services to support proof-of-concept, monotherapy screening and combination screening for the asset.
"We are delighted that Horizon CombinatoRx continues to gain traction in the market, following the acquisition earlier this year," said Darrin Disley, chief executive officer of Horizon Discovery.
"This latest contract with a top-ten pharma in the oncology space continues to demonstrate the potential of this business and the value Horizon CombinatoRx can offer to support key drug discovery and development programs in cancer," Disley added.
Horizon Discovery shares were up 1.3% to 162.00 pence on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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