You can add Amgen to the list of big biopharma companies that have partnered with Copenhagen-based Nuevolution and its small molecule discovery platform.
Nuevolution will put its platform — dubbed Chemetics — to work finding new cancer and neuroscience drugs for Amgen. Amgen gets an option on all worldwide rights to anything it wants for itself, and Nuevolution can earn up to $410 million in the full slate of milestones for any therapy that goes the distance.
Launched in 2001, Nuevolution has attracted a who’s who of biotech and pharma companies to its discovery work, which boasts the ability to screen billions of compounds in order to identify new drug candidates. Its own work has focused heavily on anti-inflammatory drugs for conditions like rheumatoid arthritis and NASH. And companies like Merck, J&J, Novartis and GSK have all joined the client queue.
J&J, for example, signed up for oncology, infectious and inflammatory diseases last fall.
All that industry interest in its discovery platform paved the way to a small but upsized IPO last December that added $29.5 million to the company’s accounts. And it’s been using the money to advance IND-enabling studies for RORγt antagonists.
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