Redpoint Bio Signs Pharmaceutical Research Agreement With Schering Corporation
EWING, N.J.--(BUSINESS WIRE)--Redpoint Bio Corporation (OTCBB: RPBC), a company developing products and technologies to improve the taste of pharmaceutical, food and beverage products, today announced that it has signed an agreement to collaborate with Schering Corporation, a subsidiary of Schering-Plough Corporation (NYSE: SGP), in the area of taste science research for pharmaceutical applications. This expanded feasibility agreement builds upon the successful completion of a previous research study between the parties. Scope and terms of the agreement were not disclosed.
"We are extremely pleased to have expanded our research collaboration with industry leader Schering," said Ray Salemme, Ph.D., Chief Executive Officer of Redpoint Bio. "We believe this agreement is a further endorsement of Redpoint Bio's unique taste science platform and it's applicability to pharmaceutical development. We look forward to continuing our good working relationship with the Schering team."
About Redpoint Bio Corporation
Redpoint Bio is leveraging recent discoveries in the molecular biology of taste to discover and develop novel taste enhancers and aversive taste blockers for the food, beverage and pharmaceutical industries. Redpoint Bio's food and beverage program is focused on identifying flavor enhancers that improve the taste of existing ingredients, reduce the need for excess sugar and salt, and contribute to the development of healthier, better-tasting foods and beverages. The pharmaceutical program uses a biochemical approach aimed at suppressing the bitterness of medicines, which has the potential to expand the range of formulation options and increase patient compliance. For more information, please visit the Company's website at www.redpointbio.com.
Safe Harbor Statement
In addition to historical facts or statements of current condition, this press release contains forward-looking statements within the meaning of the "Safe Harbor" provisions of The Private Securities Litigation Reform Act of 1995. Forward-looking statements provide the Company's current expectations or forecasts of future events. The Company's performance and financial results could differ materially from those reflected in these forward-looking statements due to among other factors, uncertainty inherent in the discovery phase of technological development, any efforts by third parties to invalidate or limit any patents, the marketplace acceptance of its products, the decisions of regulatory authorities, the results of clinical trials and general financial, economic, regulatory and political conditions affecting the food and beverage, biotechnology and pharmaceutical industries generally. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. The Company undertakes no obligation to update publicly any forward-looking statement
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