SyntheX and Bristol Myers Squibb Enter Into a Research Collaboration to Discover and Develop Targeted Protein Degradation (TPD) Therapeutics
SyntheX, Inc., an emerging growth biotechnology company innovating next-generation functional drug discovery engines, today announced a research collaboration and license agreement with Bristol Myers Squibb to discover, develop and commercialize novel small molecules using SyntheX's ToRNeDO platform for protein degradation
-Collaboration will leverage SyntheX's proprietary ToRNeDO molecular glue discovery platform to discover small molecule degraders against targets of interest-
-SyntheX will receive a combined upfront of cash and an investment and will be eligible for potential performance-based milestone payments totaling up to $550 million, as well as royalties on net sales-
SAN FRANCISCO, Oct. 4, 2022 /PRNewswire/ -- SyntheX, Inc., an emerging growth biotechnology company innovating next-generation functional drug discovery engines, today announced a research collaboration and license agreement with Bristol Myers Squibb to discover, develop and commercialize novel small molecules using SyntheX's ToRNeDO platform for protein degradation.
The collaboration will focus on discovering molecular glue degraders. Under the terms of the agreement, SyntheX will receive a combined upfront of cash and an investment and is eligible for up to $550 million in performance-based milestone payments, as well as royalties on global net sales of products.
