OTC News Archive
Optive Research aligns with Hewlett-Packard
Austin Business Journal
October 27, 2003
Austin-based Optive Research Inc. will take the power of its drug discovery software up a notch through a strategic alliance with Palo Alto, Calif.-based Hewlett-Packard Co. [NYSE: HPQ], Optive Research announced Monday.
Optive’s computer-assisted molecular discovery software will be designed for use on HP servers, tablet personal computers and workstations. The relationship will give Optive customers more computing power to solve scientific problems related to drug and agrochemical discovery, according to Optive.
Financial details of the arrangement weren’t released.
University of Texas Life Sciences Professor Robert Pearlman launched Optive Research last year, as a collaboration with the UT’s Office of Technology Licensing and the pharmaceutical industry, to help scientists bring beneficial chemical compounds to market faster and cheaper. Pearlman serves as the company’s president and chief scientific officer.
Optive employs 15 people at Far West Boulevard and MoPac Expressway. The company will continue work begun at UT’s Office of Technology Licensing with many of the world’s largest companies engaged in computer-assisted drug discovery, such as Aventis of France and New York-based Bristol-Myers Squibb Co., according to Optive Research.
UT has a royalties-based contract, although those financial details haven’t been disclosed. The deal allows Pearlman to continue his academic career at UT while working with Optive.