GSK and Ahren Announce Co-Led Series A Investment in Adrestia, and Multi-Project Discovery Collaboration with Each of the Five Projects Eligible To Receive Up To $230M (£172M) in Post Option Milestones.
The multi-year collaboration agreement seeks to discover novel drug targets across a number of therapeutic areas by combining Adrestia’s Disease Rebalancing Platform and GSK’s leading position in human genetics and functional genomics.
Adrestia’s Disease Rebalancing Platform uses synthetic viability to identify phenotypic and molecular imbalances of disease as the basis of novel drug discovery.
GlaxoSmithKline plc (LSE/NYSE: GSK) and Ahren Innovation Capital (“Ahren”) today announced they will co-lead a Series A investment in Adrestia Therapeutics (“Adrestia”), a UK-based biotechnology company using cutting edge molecular biology to develop precision medicines. In addition, GSK is entering into a multi-year agreement with Adrestia on up to five strategic, collaborative projects. Adrestia will be eligible to receive up to $230M (£172M) from each project in post-option milestone payments, plus royalties, subject to development and commercialisation progress, across multiple arising products. In addition to the Series A investment for an equity stake, GSK is also making an upfront payment for the collaborative projects. The collaboration will combine Adrestia’s world leading, synthetic viability platform with GSK’s deep scientific expertise in human genetics, functional genomics, screening, and bioinformatics.
Genetic, environmental, or other factors cause imbalances in physiological processes and pathways, leading to disease. Adrestia has developed a Disease Rebalancing Platform that uses cutting edge molecular biology to restore the biological balance in diseased or dying cells (a concept coined “synthetic viability”). Adrestia’s platform can be applied to diverse therapeutic areas, which are caused by faulty molecular pathways that lead to cellular dysfunction or death. Through this approach and bolstered by the strategic collaboration with GSK, Adrestia will use precision genetic models to search for therapeutic targets, precision diagnostics, novel drug compounds and new applications for existing drugs.
Professor Steve Jackson, CEO of Adrestia Therapeutics said: “I am delighted to close this investment with GSK and Ahren. Adrestia’s vision is to use knowledge of human disease genetics to develop innovative new medicines for rare and common diseases. It will be wonderful to work with GSK, whose deep expertise in drug discovery will accelerate Adrestia’s programmes and ability to develop medicines that have real positive impacts for patients. Ahren has made this a possibility with its ongoing exceptional support since we founded Adrestia together.”
Tony Wood, Senior Vice President, Medicinal Science and Technology of GSK said: “Adrestia has shown that synthetic viability can rescue diseased or dying cells, and is a natural extension of our shown that synthetic viability can rescue diseased or dying cells, and is a natural extension of our work with synthetic lethality to find novel medicines. This collaboration combines the talent and passion of both companies to put the UK at the cutting-edge of this approach to drug discovery.”
Alice Newcombe-Ellis, Managing Partner of Ahren said: “Adrestia’s technology has the potential to improve the lives of many patients through identifying the next generation of precision medicines. Steve is a world leading proven commercial scientist, and over the last two years the team has demonstrated the power of Adrestia’s platform. GSK is a strong partner for the next stage of Adrestia’s journey and we look forward to working together to achieve the Company’s full potential.”
Article sourced from: https://www.adrestia.com/news
Published on: 18.12.20
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