ChemDiv and Avineuro Extend Collaboration on Alzheimer's Disease and Schizophrenia

SAN DIEGO, Nov. 21 ChemDiv Inc. and AvineuroPharmaceuticals Inc. have extended the term of their research and developmentcollaboration including formulation, safety and early clinical developmentstudies in areas of neurodegenerative and psychiatric disorders. R&D serviceswill be provided by Chemical Diversity Research Institute, ChemDiv's researchsubsidiary based in Moscow. The new agreement provides for research funding ofclinical candidate compounds to POC. Avineuro is responsible for furtherclinical development and commercialization of drug candidates AVN101, AVN211,and additional compounds that may be nominated for development from theongoing research and discovery under the agreement. In September, ChemDiventered into an out-licensing and collaboration agreement with Avineuro todevelop multiple compounds for Alzheimer Disease and schizophrenia. Under theagreement, Avineuro obtained exclusive worldwide rights to clinicaldevelopment candidates AVN101, AVN211, and lead compounds in various stages ofpre-clinical development. ChemDiv will provide pre-clinical developmentservices to nominate additional backup leads and candidates for Avineuro.

About Avineuro Pharmaceuticals, Inc.:

Avineuro Pharmaceuticals, Inc. discovers and develops novel smallmolecules for unmet medical needs in neurology and psychiatry. Founded inAugust 2008 and headquartered in San Diego, California, Avineuro is managed byseasoned professionals experienced in drug discovery and development. Byacquiring lead compounds through collaborations and partnerships, Avineuroplans to develop novel products and extend the reach of marketed compounds forindications with a significant commercial potential. Avineuro emphasizes arational approach that combines modern medicinal chemistry with streamlinedpre-clinical and clinical development studies, thus allowing a fast transitionto proof-of-concept product candidates.

About ChemDiv, Inc.

ChemDiv, Inc. is a global chemistry-driven contract research organizationaccelerating discovery and development of novel therapies throughcomprehensive Discovery outSource(TM) services, including pre-clinicaldevelopment, discovery biology, medicinal and synthetic chemistry.

SOURCE ChemDiv, Inc.; Avineuro Pharmaceuticals

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