Computational drug discovery specialist e-therapeutics PLC (ETX) has inked a research agreement with Nasdaq-listed iTeos Therapeutics under which the pair will look for new immuno-oncology targets.
While the exact financial details of the agreement were not disclosed, ETX said it will receive upfront and near-term cash payments “material” to the revenue of the business.
It is also eligible for undisclosed milestone payments allied to pre-clinical and clinical development, in addition to compensation linked to progress through the regulatory process.
“We believe that our computational platform can discover novel therapeutic approaches for iTeos to prosecute in a hugely promising area of cancer treatment,” said ETX chief executive Ali Mortazavi.
“This collaboration provides further validation of the value of our network-driven, disease agnostic computational platform, which we will continue to leverage as we build our in-house RNAi based pipeline."
The company combines network science, machine learning, artificial intelligence, statistics and big data with expertise in drug discovery and development to transform the search for new medicines and intervention strategies.