Proteros Enters Into Oncology Collaboration and License Agreement With AstraZeneca
--Proteros to receive research funding and milestone payments plus royalties--
MUNICH--(BUSINESS WIRE)--Proteros biostructures GmbH (“Proteros”) today announced that it has signed an agreement with AstraZeneca (LSE/STO/Nasdaq: AZN) to jointly discover and develop novel small molecules for the potential treatment of various types of cancer.
The collaboration brings together Proteros’ discovery capabilities which are tailored to unlock even the most technically challenging drug targets with AstraZeneca’s expertise in target biology and medicinal chemistry to jointly discover novel lead compounds which will be further developed, manufactured, and commercialized by AstraZeneca.
Under the agreement, AstraZeneca will provide research funding and Proteros will be eligible for success-based research, development, and commercial milestone payments up to 62 million EUR plus tiered royalties on annual net sales.
“We believe that advances in epigenomic capabilities will bring forward the next wave of innovation in cancer development through the discovery and development of novel small molecules,” said Susan Galbraith, Senior Vice President and Head of Research and Early Development, Oncology R&D, AstraZeneca. “Proteros’ proprietary discovery platform enables us to screen epigenetic targets in a physiologically relevant setting, supporting accelerated discovery and development of the next wave of anti-cancer medicines.”
“We are delighted AstraZeneca has selected Proteros to act as their discovery engine for a number of novel and very relevant oncology targets,” said Dr Torsten Neuefeind, Proteros’ CEO. “These types of targets pose a number of challenges that Proteros’ discovery platform is uniquely positioned to overcome.”
About Proteros biostructures GmbH
Proteros is a privately held early-stage services provider in structure-based drug discovery with a cutting-edge discovery engine tailored to unlock even the most technically challenging targets. Proteros’ work is built on scientific excellence and supports its clients to reach the right results and accelerate their overall research timelines. Proteros supports most of the world’s 20 largest pharma companies and more than 250 pharmaceutical and biotech partners in the US, Europe and Japan.
For more information please visit www.proteros.com.
Proteros contact information
Dr. Torsten Neuefeind
Chief Executive Officer
Phone: +49 89 700761-0