TransTech Pharma Inc. has entered a worldwide research and license collaboration with Boehringer Ingelheim GmbH using TransTech's proprietary TTP Translational Technology. The aim of the collaboration is to discover and develop novel small molecules as therapeutics against an undisclosed biological target of interest to both companies.
Under the terms of the agreement, Boehringer Ingelheim has the exclusive right to develop and commercialise all compounds directed at the target covered by the collaboration. In a deal potentially valued at $54 million, TransTech would receive an upfront payment, research support and payments upon the achievement of specified research, clinical and commercialisation milestones. In addition, TransTech would receive royalties on future product sales, states a company release.
"Boehringer Ingelheim Research recognises the importance of collaborating with specialised biotech companies to discover new lead chemical structures against challenging biological targets. The alliance with TransTech Pharma provides an innovative lead-finding technology to be combined with Boehringer Ingelheim's strength in drug discovery. We look forward to rapidly exploring this technology to identify drug candidates for a highly relevant biologic target", said Prof. Mikael Dolsten, head of corporate division pharma research, Boehringer Ingelheim.
Adnan Mjalli, founder, president and chief executive officer of TransTech, said, " The coupling of Boehringer Ingelheim's development capabilities and our discovery engine, TTP Translational Technology is a powerful combination designed to result in the expedited discovery of novel, safe and effective clinical drug candidates."
TransTech's TTP Translational Technology is a highly automated and fully integrated drug discovery process including proprietary software modules. The technology already has shown to work effectively against a wide range of biological targets including protein-protein interactions, receptor modulators and enzyme inhibitors, and delivered small-molecule-based pre-clinical and clinical drug candidates for the treatment of diabetes, cancer, inflammation, Alzheimer's disease and thrombosis.
TransTech Pharma is a privately held clinical-stage pharmaceutical company focused on the discovery, development, and commercialisation of human therapeutics to fill unmet medical needs.
The Boehringer Ingelheim group is one of the world's 20 leading pharmaceutical companies.