Pharmacopeia triggers milestone payment from Organon

By Lisa Kerner

Charlotte, N.C., Sept. 19 - Pharmacopeia Drug Discovery Inc.'s delivery of two additional advanced lead compound series, one for pain and one for obesity, triggered a milestone payment from Organon.

The amount of the payment was not disclosed.

Pharmacopeia, a Princeton, N.J.-based pharmaceutical company, formed collaboration with Organon in 2002 entitling Pharmacopeia to additional milestones if programs progress into and through clinical development.

Pharmacopeia will receive royalties on sales of marketed products as a result of the collaboration.

Organon is a pharmaceutical company located in Roseland, N.J.

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