TOKYO AND CAMBRIDGE, UK, DECEMBER 13, 2022 (GLOBE NEWSWIRE) — Sosei Group Corporation (the “Company”), a global leader in structure-based drug discovery with a focus on G-protein coupled receptors (GPCRs) TSE: 4565) (SBDD) and its development, significant R&D milestone under drug discovery collaboration with AbbVie, a global biopharmaceutical company focused on inflammatory and autoimmune diseases announced that it had reached This achievement will pay Sosei Heptares his US$10 million.
Sosei Heptares and AbbVie entered into this research collaboration and optional license agreement in 2020 to discover, develop and commercialize novel small molecule therapeutics that modulate GPCR targets of interest to AbbVie.
Under the terms of the agreement, Sosei Heptares is eligible to receive upfront and short-term milestone payments of up to US$32 million, plus potential options, development and commercial milestones of up to US$377 million, In addition, you are eligible to receive tiered royalties on global commercial sales. .
Separately, Sosei Heptares and AbbVie also have a multi-target collaboration underway (signed in 2022) to discover, develop and commercialize new drugs targeting neurological diseases. Sosei Heptares is valued at up to US$1.2 billion, with potential royalties on sales.
Matt Barnes, President and Head of UK R&D, Heptares Therapeutics,comment: “We are pleased with the progress we have made in both our exciting collaboration with AbbVie in the fields of inflammatory diseases and neuroscience. It’s a great example of the key insights and expertise driving the program forward, and we look forward to continued progress and further achievements from this successful partnership.”
About Sosei Heptares
We are an international biopharmaceutical group focused on the discovery and early development of new drugs based on our proprietary GPCR-targeted StaR® technology and structure-based drug discovery platform capabilities. We advance a broad and deep pipeline of new medicines across multiple therapeutic areas including neurology, immunology, gastroenterology and inflammatory diseases.
The company has established partnerships with some of the world’s leading pharmaceutical companies and several emerging technology companies, including AbbVie, AstraZeneca, Genentech (Roche), GSK, Calliope, Neurocrine Biosciences, Novartis, Pfizer, Takeda and Verily . Sosei Heptares is headquartered in Tokyo, Japan, with corporate and R&D facilities in Cambridge, UK.
“Sosei Heptares” is the corporate brand and trademark of Sosei Group, Inc. (Ticker: 4565), which is listed on the Tokyo Stock Exchange. Sosei, Heptares, the logo and StaR® are trademarks of the Sosei Group companies.
For more information, see: soseiheptares.com
LinkedIn: @soseiheptaresco | | Twitter: @soseiheptaresco | | YouTube: @soseiheptaresco
Sosei Heptares – Information for Media and Investors
Chief Financial Officer Hironoshin Nomura
VP Investor Relations, Head of Regulatory Disclosure, Shinichiro Nishishita
Candelle Chong, SVP Investor Relations and Corporate Strategy
Japan: +81 (0)3 5210 3399 | England: +44 (0)1223 949390 | IR@SoseiHeptares.com
MEDiSTRAVA consulting (for overseas media)
Mark Swallow, Fraser Hall, Eleanor Parkin
+44 (0)203 928 6900 | SoseiHeptares@medistrava.com
This press release contains forward-looking statements, including statements regarding product discovery, development and commercialization. Various risks could cause Sosei Group Corporation’s actual results to differ materially from those expressed or implied by forward-looking statements. Failed to obtain patent protection for the invention. Commercial restrictions imposed by patents owned or controlled by third parties. Reliance on strategic alliance partners to develop and commercialize products and services. Development efforts may result in difficulties or delays in obtaining regulatory approval to market our products and services. The need for significant funds to conduct research and development and expand commercialization activities. Product initiatives by competitors. As a result of these factors, prospective investors are cautioned not to rely on forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise.