Nuevolution Announces Collaboration in Drug Discovery with Boehringer Ingelheim
Copenhagen, September 20, 2011 – Nuevolution A/S today announced that it has entered into collaboration with Boehringer Ingelheim, using Nuevolution’s proprietary Chemetics® drug discovery technology. Within the framework of the collaboration, hundreds of millions of diverse small molecules will be screened to discover and advance drug candidates against drug targets of interest to Boehringer Ingelheim.
The Chemetics® platform uses innovative DNA labeling to allow fragment-based drug screening at an unprecedented scale forming both small molecules and synthetic biologics. In its existing collaborations, Nuevolution has successfully addressed several challenging targets including protein-protein interactions by the identification of drug-like small molecules.
Under the terms of the agreement, Boehringer Ingelheim will provide Nuevolution with an upfront payment, research funding, and milestone payments as candidate molecules progress through preclinical and clinical development and onto the market. In addition, Nuevolution is eligible to receive royalties on the commercial sales of approved products. Further financial details were not disclosed.
“We are very pleased about the expansion of our partnership portfolio by entering into this drug discovery collaboration with Boehringer Ingelheim,”
said Alex Gouliaev, CEO of Nuevolution A/S. “We are looking forward to successfully tackle further challenging targets in collaboration with the innovative scientists at Boehringer Ingelheim.”