Epix reaches $3m milestone

Epix Pharmaceuticals Inc. of Lexington said today that it has achieved an early milestone in its collaboration with GlaxoSmithKline that entitles Epix to a $3 million payment.

As part of its collaboration with the British drug company, Epix said it has successfully used its computational-medicinal chemistry approach to drug discovery to identify three lead drug candidates for potential commercialization.

Last December, the two firms announced a worldwide multi-target collaboration to discover, develop, and market novel medicines targeting four G-protein coupled receptors for the treatment of a variety of diseases.
(By Chris Reidy, Globe staff)