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PeptiDream Announces Discovery Collaboration Agreement with BayerPeptiDream Inc., a public Kanagawa-based biopharmaceutical company ("PeptiDream")(TOKYO:4587) announced today that it has entered into a multi-target discovery collaboration with Germany-based Bayer AG ("Bayer")(ETR:BAYN). Under the agreement, PeptiDream will use its proprietary Peptide Discovery Platform System (PDPS) technology to identify macrocyclic/constrained peptides against multiple targets of interest selected by Bayer, and to optimize hit peptides into therapeutic peptides or small molecule products. Bayer also holds an exercisable option to negotiate for an extension of the license to peptide-drug conjugate (PDC), diagnostic, bioimaging, and agricultural use and applications. Bayer will have the right to develop and commercialize all compounds resulting from the collaboration. Under the terms of the agreement, PeptiDream would receive an undisclosed upfront payment and research funding and is eligible to receive preclinical, cliical, and commercialization milestone payments potentially totaling up to $1.11 billion (¥124.5 billion). In addition, PeptiDream is eligible to receive royalties on sales of any products that arise from the collaboration.
[Comment from Patrick Reid, CEO of PeptiDream Inc] In the past seven years, PeptiDream has established funded discovery collaborations with 17 of the leading pharmaceutical companies; Amgen, AstraZeneca, Bristol-Myers-Squibb, Lilly, GlaxoSmithKline, Novartis, Mitsubishi (News - Alert) Tanabe, Daiichi Sankyo, Merck, Sanofi, Teijin, Kyorin, Ipsen, Genentech, Shionogi, Asahi Kasei, and Janssen, all of which are active and ongoing. In addition, PeptiDream has transferred its PDPS discovery platform for broad use to Bristol-Myers-Squibb, Novartis, Lilly, Genentech, and Shionogi.
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