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Acesys and Provid Announce Alliance for Medicinal Chemistry Services

September 3, 2008

NORTH BRUNSWICK, N.J. and NANJING, China, Sept. 3 /PRNewswire/ — Acesys Pharmatech and Provid Pharmaceuticals Inc. announce a strategic alliance, combining the drug discovery expertise and project management capabilities of Provid in the US with the medicinal chemistry resources and favorable cost structure of Acesys in China.

The combined services available through the alliance will encompass all aspects of medicinal chemistry for clients in the pharmaceutical and biotech industries.

An experienced team at Provid will be involved in the design of programs, in the creation of novel intellectual property, and in exploratory research. Acesys will provide support for these projects with scaffold construction, hit-to-lead exploration, focused library synthesis, analog synthesis and other aspects of drug discovery.

Each project will operate via an alliance team including scientists and a program leader from Provid, a senior team leader and medicinal chemists from Acesys, and the client’s representatives. Blending the US and China efforts will enable clients to benefit from the combined experience, emphasis on high quality, productivity, and sophisticated science, coupled with lower costs.

“We have explored opportunities for alliances with emerging companies in China for some time,” said Dr. Gary Olson, Provid CEO, “and have been impressed by the exceptionally well-qualified and experienced drug discovery chemists that lead the Acesys organization. They have many years of successful CRO experience serving international pharmaceutical and biotech companies.”

“With Provid’s years of experience in medicinal chemistry and project management, Acesys will be able to provide low-cost medicinal chemistry service with uniquely high quality and high productivity,” said Charles Ye, CEO and President of Acesys Pharmatech, “Provid has proved its expertise in medicinal chemistry in numerous projects, and has a great track record. The alliance will be a valuable resource to our clients.”

About Provid

Provid Pharmaceuticals Inc. is a drug discovery service company that provides expert medicinal chemistry support to the biotech and pharmaceutical industries. These services aid a variety of research organizations ranging from start-ups and virtual development companies to large pharma, as well as government labs and academic groups. Provid applies world-class medicinal chemistry and drug development experience to transform the biological discoveries made by our customers into commercial opportunities.

   For more details, see:  http://www.providpharma.com/.    About Acesys Pharmatech  

Acesys Pharmatech is a contract research company that provides services in medicinal chemistry, including custom synthesis (from gram to kilogram), exploratory medicinal chemistry, and full medicinal chemistry project support. Acesys has extensive experience in library design and synthesis, using solution phase and solid-phase technology. In addition to its medicinal chemistry services, Acesys has built other alliances and collaborations that provide comprehensive pharmaceutical research outsourcing, including exploratory DMPK, preliminary toxicology and animal models for preclinical R&D. For details, visit our website: http://www.acesysweb.com/.

   Contacts:    Gary Olson, Ph.D.   President & CEO   Provid Pharmaceuticals Inc.   671 US Route 1, North Brunswick, NJ 08902   gary.olson@providpharma.com   732-565-1101 x 626    Charles Ye   President & CEO   Acesys Pharmatech, Ltd   5 Xinmofan Road, Technology Building B-2407, Nanjing 210009, China   yye@acesysweb.com   Tel: 908-998-1240  

Provid Pharmaceuticals Inc.

CONTACT: Gary Olson, Ph.D., President & CEO of Provid PharmaceuticalsInc., +1-732-565-1101 x 626, gary.olson@providpharma.com; or Charles Ye,President & CEO of Acesys Pharmatech, Ltd, +1-908-998-1240, yye@acesysweb.com

Web site: http://www.providpharma.com/http://www.acesysweb.com/




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