TetraGenetics Expands Collaboration With Top Tier Biotech Partner
BOSTON--(BUSINESS WIRE)-- Tetragenetics, Inc., a biopharmaceutical company developing novel therapeutics for autoimmune diseases and pain, announced today a significant expansion of an existing strategic R&D collaboration with an industry leading biotech partner.
The new programs, which are non-exclusive, expand the relationship from the single initial collaboration to now include a total of five drug discovery programs.
For each program, TetraGenetics is developing unique customized antigens and screening formulations to support the research and drug discovery activities. The TetraGenetics materials will be produced using TetraExpress™ the company’s proprietary platform for recombinant protein production.
This single agreement now includes total potential payments to TetraGenetics exceeding $300M in the form of multiple milestone payments.
The accelerated collaboration will launch immediately. All materials are to be delivered during 2018 to support drug discovery programs in 2018 and 2019.
Doug Kahn, Chairman and CEO of TetraGenetics noted, “Each of these programs involve membrane protein targets, an area of TetraGenetics expertise and ideally suited to the capabilities of the TetraExpress™ platform technology. These programs build on TetraGenetics’ prior successes using the platform for the discovery of drug candidates targeting membrane proteins.”
About TetraGenetics: TetraGenetics is an early stage drug discovery company. It uses proprietary technology (TetraExpress™) to discover large molecule drugs targeting ion channel membrane proteins associated with many human diseases. The company’s drug discovery focus is on first-in-class biologics for autoimmune diseases and pain. For more information, please visit: www.tetragenetics.com.
Suzanne Gibbons-Neff, 203-858-1325