Sequenom reaches lead optimization

Sequenom Inc.'s latest deal marks a major step in its efforts to migrate downstream into products. In a collaboration announced last week, Provid Pharmaceuticals Inc. will provide medicinal and structure-based design technologies for developing small molecule therapeutics using gene targets identified by SQNM.

Under the deal, SQNM (San Diego, Calif.) will make an equity investment in Provid (Piscataway, N.J.) and pay research funding for the development of small molecule therapeutics, initially on a cardiovascular target. SQNM has exclusive rights to resulting therapeutics, and Provid is eligible for milestones and royalties...