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PhoreMost, a biopharma company based in the United Kingdom, and Boehringer Ingelheim have entered into a multi-project drug discovery collaboration agreement, it was revealed.
PhoreMost, a biopharma company based in the United Kingdom, and Boehringer Ingelheim have entered into a multi-project drug discovery collaboration agreement, it was revealed in a Jan. 7, 2020 press release.
Under the terms of the agreement, PhoreMost will use its SITESEEKER platform for phenotypic screening of disease relevant pathways nominated by Boehringer Ingelheim. Any novel targets that arise from the screening will be further validated and characterized by Boehringer Ingelheim and will become part of its internal discovery research pipeline. For the work undertaken in the collaboration, PhoreMost will receive an upfront payment and research funding, in addition to any downstream success-based milestone payments.
Commenting on the collaboration in the press release, Dr. Chris Torrance, CEO of PhoreMost, said, “We are delighted that Boehringer Ingelheim has chosen to work with PhoreMost to enhance its drug discovery pipeline with attractive biological starting points. The collaboration is further recognition of the ability of PROTEINi and SITESEEKER to identify novel targets, and we look forward to working with the Boehringer Ingelheim team on these projects.”