Confo Therapeutics enters into drug discovery collaboration with Lundbeck
Ghent, Belgium: 26 September 2017 – Confo Therapeutics, an emerging drug discovery company, today announced that it has entered into a drug discovery collaboration with H. Lundbeck A/S, a global pharmaceutical company specializing in psychiatric and neurological disorders. The goal of the collaboration is to deploy the Company’s proprietary Confo® technology to discover novel, small molecule therapeutic compounds acting upon two G-protein coupled receptors (GPCRs).
Under the terms of the agreement, Lundbeck has an option to an exclusive license to develop, manufacture and commercialize the compounds resulting from the collaboration. Confo Therapeutics will receive up to a total of € 5 million in technology access fees and research funding during the initial 2-year period of the collaboration, and is eligible to receive further milestone payments, as well as tiered royalties on the annual net sales of any products resulting from the collaboration.
More info on Confo Therapeutics’ website.