BridGene Biosciences Achieves Milestone In Takeda Collaboration
First drug candidate will target root causes of debilitating neurological disorders
San Jose, CA /PRNewswire/ - BridGene Biosciences, Inc., a biotechnology company that uses proprietary chemoproteomics technology to discover and develop small molecules for high-value, traditionally undruggable targets, announced that it has achieved a significant milestone in its collaboration with Takeda. The collaboration between BridGene and Takeda is based on BridGene's proprietary IMTAC™ (Isobaric Mass Tagged Affinity Characterization) chemoproteomics platform, which is used to identify targets and small molecules for Takeda to develop into therapeutic candidates for clinical development.
As a result of this achievement, BridGene is entitled to receive an undisclosed milestone payment. Ping Cao, Ph.D., Co-Founder and CEO of BridGene Biosciences, said, "We are excited to announce this achievement. It highlights the superior capabilities of our IMTAC™ platform, which enables us to discover new mechanisms and new drugs that address unmet medical needs. We look forward to achieving further milestones as we advance our collaboration with Takeda."
Ceri Davies, Ph.D., Head of the Neuroscience Drug Discovery Unit at Takeda, said, "We are delighted about the achievement of this milestone and look forward to furthering this strong collaboration with BridGene."
In March 2021, BridGene announced its agreement to establish up to five drug discovery programs by using IMTAC™ to identify targets and small-molecule drug candidates for Takeda to develop into therapeutic candidates for clinical trials. As the drug discovery programs achieve specific preclinical, clinical, and commercial milestones, BridGene is eligible to receive event-driven payments that could exceed $500 million, as well as royalties from sales of commercialized drugs resulting from the collaboration.
About BridGene Biosciences
BridGene is a biotechnology company focused on discovering and developing innovative small molecules that drug traditionally undruggable targets, providing new paths to treat diseases. By using its proprietary chemoproteomic platform, IMTAC™, BridGene is able to screen small molecules against all proteins in live cells to discover drug candidates for high value and previously undruggable targets. For this purpose, BridGene takes advantage of its proprietary, diverse library of tagged, drug-like small molecules. The ultimate goal is to enable breakthrough small-molecule drug discovery and to expand the mechanisms to treat diseases, with targets previously inaccessible to small molecules. BridGene can perform IMTAC™ screening for both covalent and non-covalent molecules and discover new targets for disease treatments by deconvoluting phenotypic screening hits, setting the company apart from its peers. The company is advancing a diversified pipeline of first-in-class drugs for targets in multiple disease areas. For more information, visit https://bridgenebio.com/.
Source: BridGene BiosciencesCopyright 2023 PR Newswire. All Rights Reserved