X-Chem, Inc., a privately held biotechnology company based in Waltham, Massachusetts, has formed a multi-target collaboration with Janssen Biotech, Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson. The collaboration, which is being facilitated by Johnson & Johnson Innovation, Boston, focuses on the discovery and development of candidate molecules for the treatment of inflammatory diseases.

Under the terms of the agreement, X-Chem will apply its proprietary discovery engine, powered by a high diversity DNA-encoded small molecule library, to identify novel compounds targeting proteins involved in the inflammatory response. Janssen has an exclusive option to license the drug candidates generated in the course of the collaboration. X-Chem will receive an upfront payment and research funding and is eligible for milestone payments upon achievement of specified research, development and commercial milestones. In addition, X-Chem will receive royalty payments on the sale of products resulting from the collaboration.

In September 2014, Pharmaceutical Product Development, LLC (PPD), a contract research organization, acquired all interests in X-Chem, Inc. while retaining the company's management team and biotechnology business model.

Source: X-Chem