Copenhagen, Denmark, October 19, 2015 / B3C newswire / -- Nuevolution A/S today announced that it has entered into collaboration with Janssen Biotech, Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, using Nuevolution's proprietary Chemetics® drug discovery platform. The collaboration was facilitated by Johnson & Johnson Innovation, in partnership with Janssen Discovery Sciences.
Nuevolution, a privately held Copenhagen-based biotechnology company is applying its propriety drug discovery platform to the generation of novel small molecule therapeutics. Today they announced a multi-target collaboration with Janssen. The collaboration will focus on the discovery and development of new medical entities for the treatment of oncological, infectious and inflammatory diseases.
Within the framework of the collaboration, Nuevolution will apply its drug discovery platform Chemetics® to discover and advance drug candidates against drug targets of interest to Janssen. Under the terms of the agreement, Nuevolution will receive an upfront payment, research funding and would be eligible to milestone payments upon achievement of specified research, development and commercial milestones. In addition, Nuevolution would be entitled to receive certain royalty payments on net-sale of products that may be commercialized as a result of the collaboration.
"We are excited about entering into the extensive collaboration with Janssen," said Alex Gouliaev, CEO of Nuevolution A/S and continued, "We are looking forward to an excellent working relationship with their dedicated research and development teams."
Nuevolution is a leading small molecule drug discovery biotech company founded in 2001, and based in Copenhagen, Denmark. Nuevolution partners its discovery platform and programs with pharmaceutical and biotechnology companies to seek future benefit of patients in need of novel medical treatment option. Nuevolution's internal programs are focused on therapeutically important targets within inflammation, oncology and immuno-oncology.
The company has developed its proprietary drug discovery platform Chemetics®, a unique, patent protected hybrid of proven wet chemistry and molecular biology which represents the ultimate fragment based drug discovery platform for both identification and optimization of hit to candidate compounds. Chemetics® enables rapid oligonucleotide e.g. DNA encoded synthesis of up to billions of chemically diverse drug-like small molecule compounds, and the efficient screening and optimization of these, facilitating the identification of potent drug leads at unprecedented speed and scale.
Nuevolution has also entered into agreements with Merck & Co. (MSD), Lexicon Pharmaceuticals, GlaxoSmithKline, Novartis, Boehringer Ingelheim and Cancer Research Technology, where Lexicon Pharmaceuticals, GlaxoSmithKline and Novartis have entered into technology licensing agreements with Nuevolution. Nuevolution has also entered a scientific collaboration by and between Duke University, Howard Hughes Medical Institute, Lexicon Pharmaceuticals and Nuevolution.
Nuevolution is a privately owned company by key Scandinavian investors, including SEB Venture Capital, Sunstone Capital and Industrifonden.