Schrödinger and WuXi AppTec Announce the Launch of Faxian Therapeutics to Enable Accelerated Drug Discovery
NEW YORK and SHANGHAI, Oct. 30, 2018
NEW YORK and SHANGHAI, Oct. 30, 2018 /PRNewswire/ -- Schrödinger, a privately-held company revolutionizing drug discovery through advanced computational methods and enterprise software solutions, and WuXi AppTec, a leading pharmaceutical and medical device R&D enabling platform company, announced today that they have formed Faxian Therapeutics. The new venture will leverage the precision molecular design platforms developed by Schrödinger and accelerate them through partnership with the world-class lead optimization services provided by WuXi AppTec.
Headquartered in New York City, Faxian Therapeutics will identify opportunities where new insights into the chemistry and biology of a particular target and indication can be derived using the Schrödinger computational platform, and then uniquely enabled by integration into a rapid design-synthesize-test cycle implemented at WuXi AppTec.
"We admire WuXi's bold vision that 'every drug can be made and every disease can be treated' and we are excited to join forces with WuXi to make that vision a reality," said Dr. Ramy Farid, Schrödinger's President and CEO. "Faxian Therapeutics is the synergistic pairing of two best‑in‑class companies whose platforms perfectly complement one another; together, we look forward to tackling currently unmet healthcare needs."
"We are thrilled to partner with Schrödinger to create a powerful drug discovery engine running on a virtually-integrated, globally-distributed network," said Mr. Edward Hu, Co-CEO of WuXi AppTec. "By combining the advanced computational platform and expertise in physics-based drug discovery at Schrödinger with the highly efficient chemistry, biology, and DMPK capabilities and technology platforms at WuXi AppTec, we will be able to significantly enable Schrödinger to accelerate new drug discovery and advance new therapies that can potentially improve the health of patients worldwide."
Schrödinger is a leading provider of advanced molecular simulations and enterprise software solutions that accelerate and increase the efficiency of drug discovery and materials design. Schrödinger has a growing internal pipeline of early stage assets and has cofounded leading biotech companies, including Nimbus Therapeutics and Morphic Therapeutic. In addition, the company has deep partnerships and collaborations in such fields as biotechnology, pharmaceuticals, chemicals, and electronics. Through significant long-term investments in basic research, Schrödinger has made scientific breakthroughs across many areas of drug discovery and materials science. Founded in 1990, Schrödinger has nearly 400 employees and operations in the United States, Europe, Japan, and India, as well as business partners in China and Korea. For more information, please visit www.schrodinger.com.
About WuXi AppTec
WuXi AppTec (603259, SH) is a leading global pharmaceutical and medical device open-access capability and technology platform company with global operations. As an innovation-driven and customer-focused company, WuXi AppTec provides a broad and integrated portfolio of services to help our worldwide customers and partners shorten the discovery and development time and lower the cost of drug and medical device R&D through cost-effective and efficient solutions. With its industry-leading capabilities such as small molecule R&D and manufacturing, cell therapy and gene therapy R&D and manufacturing, and medical device testing, WuXi AppTec is committed to enabling innovative collaborators to bring innovative healthcare products to patients, and to fulfilling WuXi's dream that "every drug can be made and every disease can be treated." For more information, please visit www.wuxiapptec.com.
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