Date: 2017-03-20
Type of information: Collaboration agreement
Compound:
Company: X-Chem (USA - MA) Astellas Pharma (Japan)
Therapeutic area:
Type agreement: research collaboration
Action mechanism:
Disease:
Details: * On March 20, 2017, X-Chem announced the signing of a broad drug discovery collaboration with Astellas Pharma. The collaboration will enable the discovery of novel lead compounds for complex drug targets of interest to Astellas from X-Chem’s collection of DNA-encoded DEX™ libraries containing over 120 billion compounds. This new partnership is X-Chem’s most expansive first-time alliance with a pharmaceutical company, and is aimed at tackling hard-to-drug targets across multiple therapeutic areas at Astellas.
Financial terms: Under the terms of this multi-year agreement, X-Chem will receive an up-front payment of $16 million. X-Chem is eligible to receive research funding, as well as license and option fees as the drug discovery collaboration proceeds. Additionally, Astellas has the option to license compounds identified through this collaboration, and X Chem will be entitled to pre-clinical, developmental, and commercial milestone payments on licensed compounds against each target. Milestone payments could amount to over $100M per target, in addition to royalties based on sales of future products.
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