TeraDiscoveries Announces Name Change to Cloud Pharmaceuticals, Inc. New name better reflects company's cloud-based approach to drug design and development
RESEARCH TRIANGLE PARK, N.C., June 12, 2014 /PRNewswire/ -- TeraDiscoveries, Inc., a bio-therapeutics company focused on cloud-based drug design and development, announced today that effective immediately, it has changed its corporate name to Cloud Pharmaceuticals, Inc.
Cloud Pharmaceuticals designs new drugs and drug candidates and accelerates the development process by implementing new, innovative cloud computing technology in place of traditional methods. The company manages the development of multiple drug candidates through an extensive network of partners.
"The worldwide pharmaceutical industry is in need of new drugs that target smaller market segments. They need to be developed faster, have novel IP, and offer greater drug safety, efficacy, and affordability," says Ed Addison, company president and CEO. "Our approach uses cloud technology and high-performance computing to efficiently calculate which of all possible molecules are the best drug candidates. This reduces cost, decreases development time, and creates novel molecules with therapeutic value. Our new name more aptly reflects our approach and value proposition."
Cloud Pharmaceuticals is helping to transform the pharmaceutical and biotechnology industries to enable personalized medicine, niche buster drugs, and rapidly developed blockbusters for difficult targets. The company uses a method originally developed at Duke University called Inverse Design to quickly scan virtual chemical libraries to find the strongest inhibitors of a specific biological target. The process identifies novel drug candidates that feature good clinical trial properties and demonstrate low probability of toxic side effects.
About Cloud Pharmaceuticals, Inc.
Cloud Pharmaceuticals is a leader in the computational design of new drugs and subsequent rapid, information-driven drug development. We accelerate the drug discovery and design process in a way that delivers tangible results and true value for our partners. For information visit www.cloudpharmaceuticals.com.
SOURCE Cloud Pharmaceuticals, Inc.