On September 11, 2019 Atomwise Inc. ("Atomwise"), the leader in artificial intelligence (AI) for drug discovery, reported a collaboration with Hansoh Pharmaceutical Group Company Limited ("Hansoh Pharma"), a leading biopharmaceutical company in China, to design and discover potential drug candidates for up to eleven undisclosed target proteins in multiple therapeutic areas (Press release, Atomwise, SEP 11, 2019, View Source [SID1234539463]).
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"There is exciting science happening throughout Asia, and enormous potential for leadership in innovative drug discovery," said Dr. Abraham Heifets, CEO of Atomwise. "I am delighted to announce that Hansoh Pharma is our first partner in Asia. Hansoh Pharma is committed to innovation and shares our mission for global impact on patient health," he added.
Scientific teams from Atomwise and Hansoh Pharma will collaborate closely on the programs. The combination of Atomwise’s AI technology and medicinal chemistry and protein structure expertise, and Hansoh Pharma’s fully integrated research and development, manufacturing and commercial capabilities has the potential to dramatically increase success and compress timelines for drug discovery and clinical development.
Under the terms of the collaboration, Atomwise will receive undisclosed technology access fees, option exercise fees, royalties, and income based on sublicensing or sale of assets created under the collaboration. Based on historical average revenues for small molecule drugs, the total potential value of the deal to Atomwise with success in all projects could reach US$1.5 billion.