X-Chem received an upfront payment and ongoing research funding to apply its DNA-encoded small molecule library and discovery engine for the identification of novel leads to several Bayer targets. Bayer has an exclusive option to license programs generated under the collaboration. For each program Bayer licenses, X-Chem will receive an upfront exercise fee in addition to preclinical, clinical and sales milestone payments, as well as royalties. Financial terms were not disclosed.
“We recognize the innovative potential of X-Chem’s team and technology platform,” said Dr. Hanno Wild, senior vice president and head of Candidate Generation & Exploration at Bayer HealthCare Global Drug Discovery. “We look forward to continuing to work with X-Chem.”
“We share Bayer’s mission to bring innovative treatments to patients by addressing disease areas with a high unmet medical need. Epigenetic targets are of increasing interest for treating cancer and other life-threatening disorders, yet are particularly challenging from a drug discovery perspective,” said Rick Wagner, Ph.D., chief executive officer of X-Chem. “X-Chem has built its library and discovery platform to meet the challenges of tackling these highly difficult targets and enabling the discovery of multiple chemical series directly out of our primary screens.”