Ariel partners on search for new therapeutics

Ariel University (AU) and its tech transfer office Ariel University R&D is working with life sciences startup Drug Rediscovery (DR) on establishing a new institute at the university focused on finding new therapeutic uses for existing drugs.

Ariel will provide the infrastructure for the Centre for Drug Repurposing, while DR will manage the research group, secure funding for the centre, and direct the centre’s drug rediscovery strategy. The Centre will look to develop collaborations with both institutions and pharmaceutical firms based in Asia and the US, and is expected to have an annual operating budget of $10m.

Drug repurposing can reduce the time needed to bring treatments to market from 10 to 15 years for newly-discovered drug to as little as two years for repurposed drugs. Ariel is hoping to capitalise on the pipeline the Centre could offer, with revenues from the commercialisation of new treatments split between DR and AU R&D.

Larry Loev, CEO of Ariel University R&D, said: “We’re very excited to be building a partnership between the University and Drug Rediscovery Ltd. Ariel University’s departments of molecular biology and biological chemistry are staffed with excellent researchers and state-of-the-art laboratories.  The repurposing of existing drugs is an important contribution to healthcare and personalized medicine and Drug Rediscovery Ltd is the perfect partner to help us bring life-saving drugs to the market.”