Schrodinger, Bristol-Myers amend development pact to include neurology

Schrodinger (SDGR) and Bristol Myers Squibb (BMY) amended their discovery, development and commercialization collaboration to include a new discovery program in neurology. Schrodinger received an additional upfront payment for the new program and is eligible to receive discovery, development and commercialization milestones, as well as royalties on net sales, similar to the terms of the original agreement. Schrodinger reported a new program targeting LRRK2, a genetically validated target with therapeutic potential for the treatment of Parkinson’s disease. In 2022, Schrodinger generated cryo-electron microscopy structures of LRRK2 which is helping to accelerate the identification of novel LRRK2 inhibitors. Schrodinger expects to select a development candidate for this program in 2024. Schrodinger and Otsuka Pharmaceutical Co., Ltd., a leading healthcare company in Japan, together with Otsuka’s subsidiary Astex Pharmaceuticals, announced an innovative multi-part agreement that includes a collaboration to discover molecules for an emerging CNS disease target, as well as a knowledge-transfer program and expanded licensing agreement for Schrodinger’s platform for Otsuka’s new drug discovery facility. Under the terms of the drug discovery portion of the agreement, Schrodinger will be responsible for drug design through lead optimization and Otsuka will be responsible for all other drug discovery and clinical development activities. Schrodinger received an upfront payment and will be eligible to receive discovery, development and regulatory milestones, as well as tiered royalties on net sales of any products emerging from the drug discovery collaboration in all markets.