X-Chem, Inc., a privately held biotechnology company focused on applying its drug discovery capabilities to the generation of novel small molecule therapeutics, said that it has achieved several milestones leading to the licensing of three drug discovery programs by AstraZeneca, in the context of a collaboration the companies established in May 2012.
In a release, the Company said that its platform has demonstrated its ability to discover novel, potent and selective lead compounds against a range of targets. AstraZeneca elected to license programs directed at an oncology PPI target, a respiratory/inflammation PPI target, and an antibacterial target. The financial terms of the collaboration included an upfront payment and research funding, as well as discovery and clinical development milestones commensurate with the innovative nature of the research and significant unmet medical need of the disease indications. Financial terms of the licenses were not disclosed.
"Today's announcement illustrates X-Chem's ability to serve as a leading source of novel small molecule therapeutics for our research partners. Our discovery platform capitalizes on multiple proprietary innovations in library design, screening methodology, and informatics that underlie its exceptional performance at identifying novel leads and addressing previously 'undruggable' targets," said Rick Wagner, Ph.D., Chief Executive Officer of X-Chem. "Working with collaborators who see the value in our unique offering, such as AstraZeneca, enables us to realize our shared vision of creating innovative therapeutics."
"Our on-going two-year, multi-target collaboration with X-Chem is focused on discovering leads to several of AstraZeneca's drug targets using X-Chem's innovative small molecule discovery platform," said Mike Snowden, Vice President of Discovery Sciences, AstraZeneca. "The collaboration has enabled generation of novel chemical series for three of our key therapeutic programs and is an important part of our small molecule discovery strategy."
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