Graffinity will increase the number of targets it screens in the drug discovery collaboration
Boehringer Ingelheim Pharmaceuticals chose to exercise options in its original agreement with Graffinity Pharmaceuticals that will increase the number of targets screened by Graffinity as part of this global alliance. Under the terms of the agreement, Graffinity will receive additional technology access fees for the generation of multiple novel small molecule hit series against a variety of drug targets from different therapeutic areas.
Graffinity will apply its fragment-based drug discovery technology and drug fragment chemical microarrays to identify small molecule hit structures focusing on compounds with novel modes of action. Financial details of the transaction were not disclosed.
Both companies reiterated the importance of the continuation and expansion of this successful collaboration which complements Boehringer Ingelheim’s in-house capabilities and will include a significant number of additional drug targets.