LifeMine Therapeutics and GSK Enter into Drug Discovery and Development Alliance | Business
CAMBRIDGE, Mass.–(BUSINESS WIRE)–March 23, 2022–
LifeMine Therapeutics Inc., a biopharmaceutical company reinventing drug discovery by extracting genetically encoded small molecules (GEMs) from the biosphere, today announced a strategic R&D collaboration with GlaxoSmithKline (GSK). The collaboration will allow GSK to access LifeMine’s genomics-based drug discovery platform to identify novel small molecule leads directed to up to three human targets provided by GSK and addressing multiple disease areas.
Under the terms of the collaboration, LifeMine will receive an upfront payment of $70 million which includes both cash and an equity investment by GSK in LifeMine as part of its Series C funding round. In addition, LifeMine is eligible to receive undisclosed discovery, development, and commercial milestone payments for each collaboration product. LifeMine will also be eligible to receive royalties on net sales of any collaboration drugs marketed by GSK. LifeMine and GSK will collaborate closely on the discovery process, with each company leveraging its core capabilities and sharing IND filing costs equally. GSK will be responsible for all development and commercialization.
“This is a transformative collaboration for LifeMine and marks the first such agreement in genomic drug discovery from fungi, nature’s virtuoso medicinal chemists,” said Gregory Verdine, Ph.D., co -Founder, CEO and Scientific Director of LifeMine. . “We are excited to partner with GSK to expand the potential of our drug discovery engine while continuing to advance our own core programs. We look forward to a productive partnership that we believe will lead to new treatment options for patients. »
LifeMine aims to bring unparalleled speed, predictability, and scalability to small molecule drug discovery, offering the potential to rapidly advance multiple high-impact precision drugs to solve intractable disease problems, regardless of the therapeutic area. LifeMine’s Avatar-Rx platform seamlessly integrates high-throughput microbiology, data science and machine learning, genome engineering and automation technologies to search the fungal biosphere for novel GEMs with a predetermined biological target and function. Downstream of GEM discovery, LifeMine’s platform further integrates chemoinformatics-assisted drug optimization and advanced chemical synthesis with biotransformation to advance the development of new product candidates.
“GSK’s drug discovery approach focuses on cutting-edge technologies including human genetics, functional genomics and machine learning to increase our chances of success,” said John Lepore, SVP, Head of Research. , GSK. “This approach leads to genetically validated targets that are twice as likely to succeed as drugs, but which, due to their novelty, often require innovation to unlock their potential. We look forward to partnering with LifeMine to utilize their state-of-the-art platform, so that together we can identify what nature may have already created as chemistry starting points to increase our chances of developing transformational new medicines for patients. .
About LifeMine Therapeutics
LifeMine Therapeutics is reinventing drug discovery by extracting genetically encoded small molecules (GEMs) from the biosphere. Through its proprietary evolution-derived genomic drug discovery platform, LifeMine aims to bring unparalleled speed, predictability, and scalability to small molecule drug discovery. LifeMine has discovered hundreds of potentially high-impact drug candidates in the genomic space relevant to targets in all major disease areas, and is initially focused on advancing high-impact precision drugs in oncology and immune modulation. The company was founded in 2017 by renowned entrepreneurs/scientists Gregory Verdine, Ph.D., and Richard Klausner, MD, and entrepreneur/entrepreneur WeiQing Zhou. Headquartered in Cambridge, Mass., and with a second location in Gloucester Harbor, Mass., LifeMine has raised more than $295 million from leading life science investors. For more information, please visit www.lifeminetx.com.
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KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS
INDUSTRY KEYWORD: ONCOLOGY HEALTH GENERAL HEALTH RESEARCH PHARMACEUTICAL SCIENCE BIOTECHNOLOGY
SOURCE: LifeMine Therapeutics
Copyright BusinessWire 2022.
PUBLISHED: 03/23/2022 06:30 AM/DISC: 03/23/2022 06:32 AM
Copyright BusinessWire 2022.