Nuevolution wins Boehringer Ingelheim as licensee
Copenhagen/Ingelheim – Danish HTS expert Nuevolution A/S has signed a license agreement with drugmaker Boehringer Ingelheim (BI). The German pharma company will use Nuevolution’s proprietary Chemetics drug discovery technology to screen hundreds of millions of diverse small molecules in an attempt to discover and advance drug candidates against drug targets of interest. Under the terms of the agreement, Nuevolution is eligible to receive an upfront payment, research funding, milestone payments and royalties as candidate molecules progress through preclinical and clinical development and onto the market. More financial details were not disclosed.
According to Nuevolution, Chemetics represents a “convergent” fragment-based lead discovery technology that works using proven wet chemistry and molecular biology methods that allow for rapid synthesis and selection of ligands from billions of drug-like compounds. The firm claims that the technology harnesses the best aspects of high-throughput screening and fragment-based screening. To date, Nuevolution has raised a37m in venture capital based on the ongoing development of its proprietary technology. Investors include Novo A/S, SLS Invest, SEB Venture and SunStone Capital.