Jul 2 2010
X-Chem, Inc. today announced the signing of a multi-year collaborative agreement with Roche to apply X-Chem's proprietary platform to the rapid discovery of drug candidates against several of Roche's high-value therapeutic targets. As part of the agreement, Roche will provide X-Chem with upfront and research payments, success-based discovery milestones, and technology access fees. Roche will have the right to develop and commercialise any product arising from the collaboration, and X-Chem will receive development milestones and royalties based on worldwide sales of the therapeutic products developed by Roche. Financial terms were not disclosed.
"Entering into our first major alliance with a partner such as Roche is extraordinarily exciting for our company," said Richard W. Wagner, Ph.D., President and CEO of X-Chem. "Roche has an exceptional track record in recognizing and embracing powerful biotechnology innovations. The program that we are developing will establish drug discovery capabilities unique in the industry."