Business
Schrödinger Provides Update on Progress Across the Business and Outlines 2023 Company Strategic Priorities
New Target Added to Ongoing Collaboration with Bristol Myers Squibb Unveils LRRK2 Inhibitor Program Targeting Neurodegenerative Diseases New Collaboration
About this update from Schrodinger, Inc.
[{"type":"text","content":"\nNew Target Added to Ongoing Collaboration with Bristol Myers Squibb\n\nUnveils LRRK2 Inhibitor Program Targeting Neurodegenerative Diseases\n\nNew Collaboration and Software Agreement with Otsuka Pharmaceutical Co., Ltd.\n\n NEW YORK--(BUSINESS WIRE)--\nSchrödinger, Inc. (Nasdaq: SDGR), whose physics-based computational platform is transforming the way therapeutics and materials are discovered, today provided an update on its progress across the business and announced its strategic priorities for 2023.\n\n“We are very proud of our achievements in 2022 across all areas of our business. We continued to enhance the capabilities of our platform, we made great progress in our existing collaborations and added new ones, and we advanced our first internal product candidate, SGR-1505, to the clinic. Our successes further validate the ability of our physics-based methods to accelerate discovery of novel drug candidates for important targets with best-in-class potential,” stated Ramy Farid, Ph.D., chief executive officer at Schrödinger. “We are very excited about the opportunities we have this year to increase adoption of our software, to improve the capabilities of our platform and to advance our collaborative and proprietary pipeline. The successes of companies in which we have equity positions further validates our technology and provides yet another potential source of value creation.”\n\nNew Updates\n\nToday Schrödinger announced several new developments, including the following:\n\n\nSchrödinger and Bristol Myers Squibb amended their discovery, development and commercialization collaboration to include a new discovery program in neurology. Schrödinger received an additional upfront payment for the new program and is eligible to receive discovery, development and commercialization milestones, as well as royalties on net sales, similar to the terms of the original agreement.\n\n\nSchrödinger reported a new program targeting LRRK2, a genetically validated target with therapeutic potential for the treatment of Parkinson’s disease. In 2022, Schrödinger generated cryo-electron microscopy structures of LRRK2 which is helping to accelerate the identification of novel LRRK2 inhibitors. Schrödinger expects to select a development candidate for this program in 2024.\n\n\nSchrödinger and Otsuka Pharmaceutical Co., Ltd., a leading healthcare c...