Solvo to develop with U.S. pharmaceutical firm

Szeged-based biotech company Solvo Rt has signed a contract with an unnamed American pharmaceutical firm to further develop a diagnostic product group, said company CEO Ernő Duda. Solvo is currently working on the diagnostic and therapeutic development a new protein family, to which a Ft 250 million state subsidy, and a Euro 1.4 billion EU contribution has been awarded. The most successful products of Solvo are the so-called ABC (Xenobiotic) Transporter Assay Products, which can be applied for screening drug interactions with ABC transporters in the course of drug research and development thus accelerating the drug testing process. The top 10 pharmaceutical companies worldwide are among Solvo's clients. The company is expecting to have USD 2 million in revenues this year from drug screening systems sales. (Vg 5) E.C.