On October 6, 2022 Schrödinger (Nasdaq: SDGR), whose physics-based computational platform is transforming the way therapeutics and materials are discovered, reported a detailed review of its technology platform, the impact of this platform across a growing portfolio of collaborative and proprietary drug discovery programs, areas for future innovation, and the opportunities for value creation during its Platform Day today, October 6, from 10:00 a.m. – 12:00 p.m. ET (Press release, Schrodinger, OCT 6, 2022, View Source [SID1234621769]).
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"We have a 30-year history of continuing scientific innovation that has resulted in a very powerful technology platform that can accurately predict molecular properties by combining the accuracy of physics-based modeling with the speed of machine learning," said Ramy Farid, chief executive officer at Schrödinger. "Moreover, our physics-based methods allow us to extrapolate beyond characterized chemical space to find the molecules that are beyond the limits of current knowledge. We look forward to highlighting our work in the life sciences today."
New Collaboration with Lilly
Today Schrödinger also announced that it has entered into a collaboration with Eli Lilly and Company. Under the terms of the agreement, Schrödinger will be responsible for the discovery and optimization of small molecule compounds addressing the target. Lilly will be responsible for the completion of preclinical development, clinical development and commercialization. Schrödinger will receive an upfront payment and will be eligible to receive up to $425 million in discovery, development and commercial milestone payments. Schrödinger is also eligible to receive low single- to low double-digit royalties on net sales of any products emerging from the collaboration in all markets.
Collaborations and Proprietary Pipeline Update
Schrödinger is advancing a portfolio of 12 active collaboration projects and 18 proprietary programs. In today’s presentation, six case studies are being highlighted that demonstrate how Schrödinger leverages the platform to overcome molecular design challenges. These case studies include the following:
Discovery of a potential best-in-class acetyl-CoA carboxylase (ACC) inhibitor program in collaboration with Nimbus Therapeutics; the program was acquired by Gilead and is progressing in a Phase 2b trial in patients with compensated cirrhosis due to nonalcoholic steatohepatitis (NASH)
Discovery of a selective TYK2 inhibitor, NDI-034858, in collaboration with Nimbus Therapeutics, which is currently progressing in Phase 2b trials in patients with moderate to severe psoriasis
Discovery of MORF-057, an oral, small molecule ɑ4β7 inhibitor, in collaboration with Morphic Therapeutic, which is currently progressing in a Phase 2a trial in patients with moderate to severe ulcerative colitis and is expected to enter a Phase 2b trial in the fourth quarter of this year
Discovery and development of Schrödinger’s proprietary MALT1 inhibitor, SGR-1505, which is expected to enter a Phase 1 clinical study in patients with relapsed/refractory B-cell lymphoma in the fourth quarter of this year
Discovery and development of Schrödinger’s proprietary CDC7 inhibitor, SGR-2921, which is advancing through IND-enabling studies to support a planned IND submission in the first half of 2023
Discovery and development of Schrödinger’s proprietary Wee1 inhibitor program, which is currently undergoing studies required for selection of a development candidate expected in the fourth quarter of this year
Opportunities for Future Innovation within the Platform
Schrödinger is highlighting the near- and longer-term opportunities for continued innovation of its physics-based computational platform. These opportunities include the following:
Increasing the number and type of discovery targets the platform can advance through hit identification (Hit ID), including structure-based drug discovery for nearly all targets and Hit ID for historically undruggable targets
Improving the effectiveness and efficiency with which the platform can advance targets through lead optimization, including more comprehensive support for ADME-Tox optimization and de novo design
Expanding the applicability of the platform to new high-value areas, including preclinical development and formulations, new modalities and materials design
"The metrics for all aspects of our business are positive – our software business is growing, our collaborations are increasing, we have more milestone and royalty opportunities than ever before, and we are expanding our proprietary pipeline," said Geoffrey Porges, MBBS., chief financial officer at Schrödinger. "We view our balanced business model as a strength and see significant opportunities for value creation from the platform in the near, medium and long term."
Event Information
Schrödinger’s Platform Day is a hybrid event, with limited in-person attendance available to members of the investment community, and a simultaneous webcast is available for individual investors and other interested parties who wish to join virtually.
The live presentation can be accessed under "News & Events" in the investors section of Schrödinger’s website, View Source and will be archived for approximately 90 days. To participate in the live webcast, please register for the event here. It is recommended that participants register at least 15 minutes in advance of the event.