ChemAxon has fattened its pharma business, landing a deal with German drug powerhouse Boehringer Ingelheim. Budapest-based ChemAxon announced Feb. 14 that the drugmaker plans to use its chemistry software platform in the process of ushering compounds from discovery to the clinic.
The deal follows the prestigious assignment ChemAxon recently took on for the European Lead Factory, a pan-European drug discovery effort that involves 7 large pharma outfits and some 30 organizational partners. The company will be providing software tools that enable stakeholders across the continent to collaborate on discovery projects involving massive compound libraries.
Working in ChemAxon's favor, discovery labs have become more dependent on informatics and software tools to streamline their hunts for drug leads. Plus, information technology has become key to facilitating work between researchers in different locations. A big theme in discovery is collaboration, as pharma outfits spread the work--and sometimes the risk and expense--of drug hunts across multiple parties. In fact, Boehringer plans to use ChemAxon's platform for internal projects and work involving external partners.
The 15 largest drugmakers in the world are now using ChemAxon's software, according to the privately held company, which doesn't reveal detailed financials to the public but says that it's had strong year-over-year growth. The company has also set up shop in the Boston area and other U.S. locations.
"The adoption of ChemAxon technology by Boehringer Ingelheim further underlines our position as the platform of choice for R&D organizations planning their next-generation systems," ChemAxon CEO Alex Drijver said in a statement.
- here's the release