Amgen, Nuevolution in Oncology and Neuroscience Pact
Amgen has formed a multiple-target research collaboration with Nuevolution, a Copenhagen, Denmark -based biotechnology company focused on small-molecule drug discovery, to develop and commercialize therapeutics in oncology and neuroscience. Nuevolution will apply its Chemetics drug discovery platform to discover and advance potential therapeutics of interest to Amgen.
Under the agreement, Amgen has an exclusive option to obtain all rights to successfully developed programs. Nuevolution is eligible to receive a license fee payment upon option exercise and milestone payments upon achievement of specified research, development, and commercial milestones, totaling up to $410 million per target. Nuevolution would also be entitled to receive royalties on future sales. Additional financial details were not disclosed. Nuevolution will be responsible for the early-phase research and Amgen will work collaboratively with Nuevolution during late-stage research. Amgen will be fully responsible for preclinical development, clinical development, and commercialization worldwide.
Nuevolution’s Chemetics platform is designed to enable DNA-encoded synthesis of drug-like small-molecule compounds and allows screening and optimization of these, facilitating identification of drug candidates.