Proteros Expands Oncology Collaboration and License Agreement with AstraZeneca

Rhea-AI Summary

AstraZeneca (AZN) has expanded its collaboration with Proteros biostructures GmbH, focusing on the discovery and development of novel epigenetic drugs. The multi-year agreement builds upon a prior collaboration from June 2021 and includes research funding along with potential milestone payments up to USD 75 million plus tiered royalties on net sales. Proteros will leverage its expertise in drug-target interactions using advanced technologies like X-ray crystallography and cryo-Electron Microscopy to enhance drug discovery efficiency.

Positive

• Collaboration expansion with Proteros enhances drug discovery capabilities.
• Potential milestone payments of up to USD 75 million provide financial incentives.
• Use of advanced techniques like X-ray crystallography improves drug development efficiency.

Negative

• None.

-- Under the expanded collaboration, Proteros will receive additional research funding, milestone payments plus royalties --

MUNICH--(BUSINESS WIRE)-- Proteros biostructures GmbH (“Proteros”), an expert in integrated structure-based drug discovery, announces today an expansion of its collaboration with AstraZeneca (LSE/STO/Nasdaq: AZN) focused on the discovery and development of novel epigenetic drugs. The new multi-year agreement builds on an ongoing collaboration with AstraZeneca announced in June 2021, to include the development of small molecule inhibitors targeting a second cancer-associated epigenetic protein.

Under the terms of this new agreement, Proteros will receive research funding and will be eligible for success-based research, development, and commercial milestone payments of up to USD 75 million plus tiered royalties on annual net sales. The collaboration combines Proteros’ expertise in the identification and characterization of inhibitors with novel binding mechanisms for technically challenging drug targets with AstraZeneca’s leadership in the discovery and development of oncology medicines.

“The expansion of our agreement with AstraZeneca with an additional drug discovery program reflects our successful ongoing collaboration to identify selective inhibitors for notoriously challenging disease targets,” said Dr. Torsten Neuefeind, CEO of Proteros. “This agreement strengthens our collaboration with a global biopharmaceutical leader and we look forward to joining forces again to discover novel inhibitors with the potential to effectively treat cancer patients in the future.”

The Proteros platform will ensure high selectivity to a specific target variant within and across multiple protein families through biochemical, biophysical and cellular assays supported by rapid turnaround in the structural determination of drug-target interactions by X-ray crystallography and cryo-Electron Microscopy technologies.

About Proteros biostructures GmbH

Proteros is a privately-held company with expertise in structure-based drug discovery powered by a cutting-edge discovery engine tailored to unlock even the most technically challenging disease-relevant targets. The company’s scientific rigor can accelerate overall research timelines for clients by solving challenges at the initial drug discovery and development stages. Proteros supports many of the top 20 world’s largest pharmaceutical companies and more than 250 pharmaceutical and biotech partners in the U.S., Europe and Japan.

For more information please visit www.proteros.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220516005058/en/

For Proteros

Dr. Torsten Neuefeind

Chief Executive Officer

Phone: +49 89 700761-0

Email: info@proteros.com

Media Requests for Proteros

Trophic Communications

Jacob Verghese or Gretchen Schweitzer

Phone: +49 89 2070 89831

Email: proteros@trophic.eu

Source: Proteros biostructures GmbH

FAQ

What is the recent collaboration between AstraZeneca and Proteros?

AstraZeneca has expanded its collaboration with Proteros biostructures to focus on the discovery and development of novel epigenetic drugs.

What are the financial terms of the AstraZeneca and Proteros collaboration?

Proteros will receive up to USD 75 million in milestone payments plus tiered royalties on annual net sales as part of the collaboration.

What role does Proteros play in the AstraZeneca collaboration?

Proteros provides expertise in structure-based drug discovery, focusing on identifying selective inhibitors for challenging disease targets.

When was the original collaboration between AstraZeneca and Proteros announced?

The original collaboration was announced in June 2021.

What technologies will Proteros use in the collaboration with AstraZeneca?

Proteros will use techniques like X-ray crystallography and cryo-Electron Microscopy for drug-target interactions.