X-Chem, a Waltham, Mass.-based biotechnology company focused on the generation of novel small molecule therapeutics using its proprietary DNA-encoded library platform, has initiated a drug discovery collaboration with Alexion, a global developer of therapies for patients with severe and ultra-rare disorders.
X-Chem will deploy its proprietary drug discovery engine, which is based on a high-diversity library in excess of 100 billion molecules, to identify novel drug candidates against targets chosen by Alexion.
Alexion will have the exclusive worldwide rights to develop and commercialize novel compounds arising from the collaboration. X-Chem will receive an upfront payment and would receive additional payments upon the achievement of specified research, development and regulatory milestones. In addition, X-Chem would receive royalty payments on the sale of products resulting from the collaboration.
No financial details have been disclosed.