Nuevolution A/S and Biovitrum AB in drug discovery collaboration
Nuevolution A/S, Denmark and Biovitrum AB, Sweden have signed a drug discovery collaboration focused on the indication area of metabolic diseases. Under the terms of the agreement, Nuevolution will use its proprietary Chemetics® drug discovery technology to find new drug leads against a disease target to be provided by Biovitrum. Nuevolution will generate several 100 million membered tailor-made Chemetics® libraries from which high-affinity and drug-like ligands will be selected. Under the terms of the agreement, Nuevolution is entitled to certain milestone payments and a share of future product sales resulting from the collaboration.
Knud Aunstrup, CEO of Nuevolution A/S, said "Nuevolution is delighted to sign this drug discovery collaboration with Biovitrum. It gives us the opportunity to demonstrate the power of our technology, working together with a biotech company that is well-known for its innovation. This transaction will also further validate the potential of our Chemetics® technology".
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