X-Chem, Inc., a privately held biotechnology company focused on applying
its innovative drug discovery capabilities to the generation of novel
small molecule therapeutics, today announced it has licensed a second
drug discovery program to Bayer Pharma AG pursuant to the multi-target
collaboration the companies established in July 2012. The latest program
comprises several series of small molecule compounds against a
cardiovascular drug target.
Under the terms of this agreement, X-Chem will receive an upfront
license fee in addition to payments based on the achievement of defined
pre-clinical, clinical and sales milestones, as well as royalties. The
financial terms of the license are not disclosed and are commensurate
with terms X-Chem has established in its collaborations with other major
pharmaceutical companies.
“This license further validates the innovative nature of X-Chem’s team
and approach,” said Prof. Dr. Hanno Wild, Senior Vice President and Head
of Candidate Generation & Exploration at Bayer HealthCare Global Drug
Discovery. “We look forward to continuing our collaboration with X-Chem.”
“We were delighted to work with Bayer on a cardiovascular program which
is 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 engine to meet the challenges of such highly
difficult targets and promote the discovery of multiple chemical series
directly out of our primary screens.”
About the X-Chem Drug Discovery Platform
Due to the size and diversity of the library, X-Chem can discover
multiple series of novel, potent and selective lead compounds at an
unprecedented rate of success against a wide range of targets, including
some that previously failed using conventional screening methods. A
number of proprietary innovations in library design, screening
methodology and bioinformatics underlie the exceptional performance of
the platform. In particular, X-Chem’s approach to library construction
allows for additional chemical reactions to become useable in
DNA-encoded library synthesis. Together, these developments result in a
much greater repertoire of diversity for small molecules, which cover a
range of categories including fragment molecules, small molecular weight
heterocyclic compounds, and macrocyclic structures. This diverse
library, combined with a heightened ability to detect active molecules,
has yielded a robust process that has been highly successful against
targets categorized as difficult or intractable.
About DNA-Encoding
The X-Chem drug discovery engine is based on a library generated by
iterative combinatorial synthesis of small molecules tethered to DNA
tags that record the synthetic history of the small molecule. Every
small molecule in the library has a unique DNA barcode attached it. The
library is screened as a mixture using affinity-based binding to a
target of interest. Certain rare molecules in the library that bind to
the target can be “fished out,” while the rest of the molecules wash
away. DNA sequencing methods are then used to detect molecules that are
enriched when bound to the target. The diverse nature of the library
produces multiple families or clusters of related molecules that bind to
the target, forming a basis for emergent structure-activity
relationships. Structure-activity relationships are typically used by
medicinal chemists to guide iterative chemical maturation of a molecule
into a drug. Based on the synthetic history encoded in the DNA sequence
information, molecules are then made without the DNA tag attached, and
tested for activity in conventional assays.
About X-Chem
X-Chem, Inc. is a biotechnology company based in Waltham, MA. The
company’s mission is to apply its powerful product engine to the
discovery of small molecule compounds against high-value therapeutic
targets. X-Chem has established partnerships with Roche, AstraZeneca and
several other leading pharmaceutical companies, biotechnology
organizations, and academic centers.
In September 2014, Pharmaceutical Product Development, LLC (PPD)
acquired all interests in X-Chem, Inc., while retaining the company's
management team and biotechnology business model. For further
information on X-Chem, please visit: http://www.x-chemrx.com.
About PPD
PPD is a leading global contract
research organization providing drug
discovery, development, lifecycle management and laboratory
services. Our clients and partners include pharmaceutical,
biotechnology,
medical
device, academic and government
organizations. With offices in 46 countries and more than 13,000
professionals worldwide, PPD applies innovative technologies,
therapeutic expertise and a commitment to quality to help clients and
partners accelerate the delivery of safe and effective therapeutics and
maximize the returns on their R&D investments. For more information,
visit www.ppdi.com.
Forward-looking Disclaimer
Except for historical information, all of the statements,
expectations and assumptions, including statements, expectations and
assumptions about X-Chem’s small molecule drug discovery technology and
its collaboration with Bayer AG, contained in this news release are
forward-looking statements that involve a number of risks and
uncertainties. Although PPD and X-Chem attempt to be accurate in making
these forward-looking statements, it is possible that future
circumstances might differ from the assumptions on which such statements
are based and could cause actual results to differ materially from the
forward-looking statements. Other important factors that could cause
future results to differ materially include the following: rapid
technological advances that make our services less competitive; risks
associated with and dependence on strategic relationships; the ability
to attract, integrate and retain key personnel; competition in the
outsourcing industry; X-Chem’s ability to win new business; the rate of
conversion of backlog and future milestones and other payments under the
collaboration into revenue and earnings; actual operating performance;
overall global economic conditions; economic conditions, research and
development spending, and outsourcing trends in the pharmaceutical,
biotechnology and government-sponsored research sectors; consolidation
in the pharmaceutical and biotechnology industries; loss, delay or
modification of large contracts; compliance with drug development
regulations; changes in the regulation of the drug development process;
risks associated with acquisitions and investments; and the ability to
control SG&A spending. PPD and X-Chem assume no obligation and expressly
disclaims any duty to update these forward-looking statements in the
future, except as required by applicable law. These forward-looking
statements should not be relied upon as representing PPD or X-Chem’s
estimates or views as of any date subsequent to the date hereof.
Copyright Business Wire 2014