X-Chem Enters Expanded Global Drug Discovery and Technology Transfer Collaboration with AstraZeneca
Thursday, January 18, 2018
Small molecule discovery specialist X-Chem, Inc. today announced a significant expansion of their existing global drug discovery collaboration with the global biopharmaceutical company AstraZeneca. The new agreement focuses on the synthesis and delivery of custom libraries to AstraZeneca as well as the transfer of the DEX platform, allowing for in-house screening of DNA-encoded libraries at AstraZeneca. It is the third agreement between AstraZeneca and X-Chem since 2012 and builds on the success of the parties’ existing collaboration, which has resulted in numerous licenses to novel small molecules across multiple discovery programs and therapeutic indications to date.
“The DEX platform is an important pillar of our small molecule discovery strategy. This extended collaboration reflects the strength and success of our work with X-Chem over the past five years and secures long-term access to this capability,” said Dr. Menelas Pangalos, Executive Vice President of AstraZeneca’s Innovative Medicines and Early Development Biotech Unit.
“The relationship with AstraZeneca has been one of X-Chem’s longest and most fruitful collaborations,” said Rick Wagner, Ph.D., Chief Executive Officer of X-Chem. “AstraZeneca’s decision to internalize the DEX platform and conduct DEL screening in-house is a testament to the power of the DEX technology and its importance for small molecule drug discovery in the future.”
Under the terms of the agreement, X-Chem will receive upfront technology access and license fees, as well as multi-year committed funding. X-Chem is also eligible for additional payments linked to the exercise of specific technology transfer options and the achievement of certain R&D and commercial milestones. In addition, X-Chem will receive royalties for each successfully commercialized drug that results from joint target-based collaboration programs.
