Copenhagen, September 20, 2011 / B3C newswire / – 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.”
For further details about Nuevolution and the Chemetics® technology please contact:
Alex Haahr Gouliaev, CEO
Phone: +45 7020 0987
Nuevolution is a leading small molecule lead discovery company founded in 2001 and based in Copenhagen, Denmark. The company has developed Chemetics®, a unique, patent protected hybrid of proven wet chemistry and molecular biology which represents the ultimate fragment based drug discovery technology. Chemetics® enables rapid synthesis and DNA-tagging of hundreds of millions of chemically diverse drug-like small molecule compounds and the efficient screening of these, facilitating the identification of potent drug leads at unprecedented quantity, quality and speed compared to existing drug discovery technologies.
Nuevolutions library collection currently exceeds 1 billion small molecule compounds and synthetic biologics for screening.
Nuevolution partners its technology with pharmaceutical and biotechnology companies. Nuevolution has entered into agreements with Merck & Co., Lexicon Pharmaceuticals, GlaxoSmithKline, Novartis Pharma and now Boehringer Ingelheim. Nuevolution has also entered into a joint venture consortium between Nuevolution, EpiTherapeutics, ExpreS2ion Biotechnologies and Professor Kristian Helin (Biotech Research & Innovation Centre, University of Copenhagen) aiming at discovery and development of novel small molecule drugs against epigenetic factors. This 24 MDKK budget joint venture project is supported by The Danish National Advanced Technology Foundation.
Nuevolution has demonstrated the power of Chemetics® by identifying highly potent and drug like novel ligands with the potential to address major unmet medical needs across a range of therapeutic areas and target classes.