Friday, September 13, 2019
China's leading biopharmaceutical company Hansoh Pharmaceutical Group Company Limited (" Hansen Pharmaceutical ") and drug discovery artificial intelligence (AI) Atomwise, Inc. (" Atomwise ") , a leader in the field, announced a collaborative design and discovery of potential drug candidates for up to 11 unexposed target proteins in a variety of therapeutic areas.
Atomwise and Hansen Pharmaceutical's scientific team will work closely together in these projects. The combination of complementary expertise and technology is expected to significantly increase success and reduce timelines for drug discovery and clinical development.
Dr. Lu Aifeng, President of Jiangsu Hansoh Pharmaceutical Group Co., Ltd., said: Hansen Pharmaceutical is committed to using AI technology to innovate and develop diverse small molecules in the field of cancer and other therapeutics. Atomwise is the right partner for Hansen Pharmaceuticals. We are very impressed with Atomwise's AI platform, capabilities and team. We believe that the two companies will have an excellent opportunity to develop similar and best-in-class therapeutic drugs. ."
Dr. Abraham Heifets, CEO of Atomwise, said: "We are very excited to work with Hansen Pharmaceutical, China's leading biopharmaceutical company. Hansen Pharmaceuticals and we all have strong commitment to innovation and a common mission to influence the health of patients worldwide. ."
The world-class AI platform for Atomwise structured drug design will guide efforts in hit discovery, accidental discovery to hit-to-lead selection, and optimization of lead compounds. Hansen Pharmaceuticals is committed to biological testing and pharmaceutical chemistry, as well as leading subsequent preclinical and clinical development activities.
Under the terms of the partnership, Atomwise will receive undisclosed technology royalties, optional royalties, royalties, and subcontracting authorizations or revenue generated from the sale of the derivative assets. Based on the historical average turnover of small molecule drugs, the potential total value of all successful projects with Atomwise's transaction may exceed potential selling drugs. Hanson Pharmaceuticals will receive development and commercialization rights in all fields and geographies.
