Nuevolution Announces Receipt of Milestone Payment from Boehringer Ingelheim
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|Wednesday, 09 May 2012 14:00 (UTC + 2)|
The payment was triggered following identification of potent small molecule compounds that have been shown to disrupt the protein-protein interaction of an undisclosed therapeutic target.
In its collaboration with Boehringer Ingelheim,
The Chemetics® platform uses innovative
“We are very pleased about the results that have been obtained thus far in the collaboration with Boehringer Ingelheim. The use of ultra large libraries under the optimized work flow implemented by Nuevolution during the last couple of years, has allowed the rapid identification of interesting compounds for this target," said Alex Gouliaev, CEO of
Boehringer Ingelheim and
Nuevolutions library collection currently exceeds 1 billion small molecule compounds and synthetic biologics for screening.
Nuevolution partners its technology with pharmaceutical and biotechnology companies. Nuevolution has entered into agreements with Merck & Co., Lexicon Pharmaceuticals, GlaxoSmithKline, Novartis Pharma and Boehringer Ingelheim. Nuevolution has also entered into a joint venture consortium between Nuevolution, EpiTherapeutics, ExpreS2ion Biotechnologies and Professor Kristian Helin (Biotech Research & Innovation Centre, University of Copenhagen) aiming at discovery and development of novel small molecule drugs against epigenetic factors. This 24 MDKK budget project is supported by the Danish High Technology Fund.
Nuevolution has demonstrated the power of Chemetics® by identifying highly potent and drug like novel ligands with the potential to address major unmet medical needs across a range of therapeutic areas and target classes.
Nuevolution is a privately owned company by key Scandinavian investors, including SEB Venture, Sunstone Capital, SLS Invest and Novo A/S. For more information about Nuevolution A/S, please visit the company’s website www.nuevolution.com.