Announces Expanded Research Collaboration
Agreement with Otsuka Pharmaceutical Co., Ltd.
On Track to Report Initial Phase 1 Data from
Three Proprietary Programs in 2025
Focus on Delivering Continued Software Growth
and Increased Drug Discovery Revenue
Schr�dinger, Inc. (Nasdaq: SDGR) today provided an update on its
progress across the business in 2024 and announced its strategic
priorities for 2025.
“We are very proud of our accomplishments in 2024. We advanced
the capabilities of our computational platform and leveraged the
synergies in our business, which included signing a multi-target
research collaboration and expanded software licensing agreement
with Novartis. We are pleased another innovative pharmaceutical
company is engaged with us through both large-scale utilization of
our software and through drug discovery collaborations,” stated
Ramy Farid, Ph.D., chief executive officer at Schr�dinger. “We have
a very important year ahead of us and are committed to driving
growth in our software business, advancing our collaborative
pipeline and reporting initial Phase 1 data from our three lead
proprietary therapeutic programs.”
Additionally, today Schr�dinger announced that it has expanded
its research collaboration with Otsuka Pharmaceutical Co., Ltd., to
add another undisclosed target to the collaboration. The terms of
the expanded collaboration are consistent with the previously
announced agreement.
Schr�dinger also announced that its research collaboration with
Novartis has received regulatory clearance, and Schr�dinger expects
to receive the upfront payment of $150 million from Novartis in the
first quarter of 2025.
2024 Achievements Today Schr�dinger highlighted several
2024 achievements, including the following:
Platform
- Launched its initiative to expand the company’s computational
platform to predict toxicology risk early in drug discovery, which
is being funded by $19.5 million in grants from the Bill &
Melinda Gates Foundation
- Launched LiveDesign Biologics, an informatics solution for drug
discovery teams designing biologics, which builds upon the
company’s existing, small molecule-focused, LiveDesign
offering
- Published 29 peer-reviewed articles in life sciences and
materials science journals
Proprietary Pipeline
- Continued to advance its Phase 1 clinical study of SGR-1505,
its MALT1 inhibitor, in patients with relapsed/refractory B-cell
lymphomas and its Phase 1 clinical study of SGR-2921, its CDC7
inhibitor, in patients with relapsed/refractory acute myeloid
leukemia or high-risk myelodysplastic syndrome
- Initiated a Phase 1 clinical study of SGR-3515, its Wee1/Myt1
inhibitor, in patients with advanced solid tumors
- Received FDA Fast Track Designation for SGR-2921 for the
treatment of relapsed/refractory acute myeloid leukemia
- Presented preclinical data on SGR-3515, its Wee1/Myt1
inhibitor, at the EORTC-NCI-AACR Symposium
Collaborators, Partners, and Co-Founded Companies
- Announced a multi-target research collaboration and license
agreement with Novartis, including a $150 million upfront payment
and up to $2.3 billion in milestone payments plus royalties, as
well as an expanded software licensing agreement, which
substantially increases Novartis’ access to Schr�dinger’s
computational platform to industry-leading scale
- Ajax Therapeutics, a company co-founded by Schr�dinger,
initiated a Phase 1 clinical trial for its lead program, AJ1-11095
and completed a Series C financing, in which Schr�dinger
participated as a continuing investor
- Morphic Holding, Inc., a company co-founded by Schr�dinger, was
acquired by Lilly for approximately $3.2 billion, resulting in
approximately $48 million in cash for Schr�dinger, with Schr�dinger
remaining entitled to low single-digit royalties on selected
pipeline programs, including MORF-057, its orally administered α4β7
inhibitor
- Nimbus, a company co-founded by Schr�dinger, presented updated
Phase 1/2 data for NDI-101150, its HPK1 inhibitor, at the Society
for Immunotherapy of Cancer Annual Meeting
- Structure Therapeutics, a company co-founded by Schr�dinger,
presented Phase 1b/2a data for GSBR-1290, its oral GLP-1 agonist,
in obesity and diabetes at the Annual Meeting of the America
Diabetes Association
- Structure Therapeutics also announced the selection of
ACC-2671, its novel oral small molecule amylin receptor agonist for
further development in obesity
- Copernic Catalysts, a Schr�dinger research partner in materials
science, raised an oversubscribed financing round, in which
Schr�dinger participated as a continuing investor
2025 Strategic Priorities Today Schr�dinger outlined the
following strategic priorities for 2025:
- Drive increased customer adoption of its computational
technology and enterprise informatics platform
- Advance the science underlying the platform, including
progressing the predictive toxicology initiative
- Present initial data from the Phase 1 study of SGR-1505 in
patients with relapsed/refractory B-cell lymphomas in the first
half of 2025
- Present initial data from the Phase 1 study of SGR-2921 in
patients with relapsed/refractory acute myeloid leukemia or
high-risk myelodysplastic syndrome in the second half of 2025
- Present initial data from the Phase 1 study of SGR-3515 in
patients with advanced solid tumors in the second half of 2025
- Advance proprietary and collaborative discovery portfolio
Schr�dinger will report its fourth quarter and full-year
financial results and provide 2025 financial guidance on Wednesday,
February 26, 2025, after the financial markets close. The company
will host a conference call and webcast at 4:30 p.m. ET.
About Schr�dinger Schr�dinger is transforming molecular
discovery with its computational platform, which enables the
discovery of novel, highly optimized molecules for drug development
and materials design. Schr�dinger’s software platform is built on
more than 30 years of R&D investment and is licensed by
biotechnology, pharmaceutical and industrial companies, and
academic institutions around the world. Schr�dinger also leverages
the platform to advance a portfolio of collaborative and
proprietary programs and is advancing three clinical-stage oncology
programs. Founded in 1990, Schr�dinger has approximately 900
employees operating from 15 locations globally. To learn more,
visit www.schrodinger.com, follow us on LinkedIn and Instagram, or
visit our blog, Extrapolations.com.
Cautionary Note Regarding Forward-Looking Statements This
press release contains forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995,
including but not limited to those regarding the potential
advantages of our computational platform, our research and
development efforts for our proprietary drug discovery programs and
our platform, the initiation, timing, progress, and results of our
proprietary drug discovery programs and the drug discovery programs
of our collaborators, the clinical potential and favorable
properties of our MALT1, CDC7, and Wee1/Myt1 inhibitors, including
SGR-1505, SGR-2921, SGR-3515, and other compounds discovered with
our platform, our ability to discover, identify and advance
development candidates under our collaboration with Novartis, our
ability to realize potential milestones, royalties or other
payments under our collaboration with Novartis, the risk that we
may not realize the expected benefits of our collaboration with
Novartis, the clinical potential and favorable properties of our
collaborators’ product candidates, including Ajax Therapeutics,
Nimbus Therapeutics and Structure Therapeutics, and our ability to
realize milestones, royalties, and other payments from our
collaborative and proprietary programs, our plans to discover and
develop product candidates and to maximize their commercial
potential by advancing such product candidates ourselves or in
collaboration with others, our plans to leverage the synergies
between our businesses, our strategic priorities and plans, and our
progress towards achieving our strategic priorities are
forward-looking statements. Statements including words such as
“aim,” "anticipate," "believe," "contemplate," "continue," "could,"
"estimate," "expect," “goal,” "intend," "may," "might," "plan,"
"potential," "predict," "project," "should," "target," "will,"
"would" and statements in the future tense are forward-looking
statements. These forward-looking statements reflect our current
views about our plans, intentions, expectations, strategies and
prospects, which are based on the information currently available
to us and on assumptions we have made. Actual results may differ
materially from those described in the forward-looking statements
and are subject to a variety of assumptions, uncertainties, risks
and factors that are beyond our control, including the demand for
our software solutions, our ability to further develop our
computational platform, our reliance upon our third-party drug
discovery collaborators, the uncertainties inherent in drug
development and commercialization, such as the conduct of research
activities and the timing of and our ability to initiate and
complete preclinical studies and clinical trials, uncertainties
associated with the regulatory review of clinical trials and
applications for marketing approvals, the ability to retain and
hire key personnel and other risks detailed under the caption "Risk
Factors" and elsewhere in our Securities and Exchange Commission
filings and reports, including our Quarterly Report on Form 10-Q
filed with the Securities and Exchange Commission on November 12,
2024, as well as future filings and reports by us. Any
forward-looking statements contained in this press release speak
only as of the date hereof. Except as required by law, we undertake
no duty or obligation to update any forward-looking statements
contained in this press release as a result of new information,
future events, changes in expectations or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250113881096/en/
Jaren Madden (Investors) jaren.madden@schrodinger.com
617-286-6264
Matthew Luchini (Investors) matthew.luchini@schrodinger.com
917-719-0636
Allie Nicodemo (Media) allie.nicodemo@schrodinger.com
617-356-2325
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