LabNetwork, a WuXi AppTec company, and Latvia-based Chemspace, both online marketplace for chemical compounds utilized in drug discovery, have recently announced that the companies have entered into a partnership agreement.

A press release from Chemspace suggests that the products of LabNetwork would now be available on the official website of Chemspace, under this agreement, with technical support and distribution to be offered by Chemspace for European customers. This collaboration will expand the market reach of both the firms to biotech and pharma companies.

Further from the reports, the database of Chemspace encompasses more than 100 million unique chemical building fragments, blocks and screening compounds, along with being the largest library of purchasable chemicals in the world.

According to the company, its online catalogue consists of make-on-demand and in-stock molecules, offering a fast, easy way of searching by using a wide range of filter options, like similarity, substructure, as well as by using different text identifiers.

Using the database of Chemspace is apparently cost free for customers. For accessing and reviewing the platform, there are no license fees for users. Chemspace invites chemistry suppliers from across the globe, that range from small to large corporations, for uploading their catalogues to the site, to offer an efficient solution for buyers while sourcing chemicals.

Chief Executive Officer of Chemspace, Dr. Yurii Moroz, said in a statement that this collaboration with LabNetwork would provide academic researchers, medicinal chemists, and drug discovery scientists access to a varied range of high-quality products.

Dr. Moroz added that a significant amount of synergy could be seen in combining the forces of both the companies, from a business perspective as well as for improving availability of compounds for the research community. Ultimately, this partnership aims at shortening the process of drug discovery in the hope of finding better cure for patients quickly, he mentioned.