Stablix, Vertex collaborate for targeted protein stabilization therapeutics

Stablix announced a strategic collaboration and license agreement with Vertex Pharmaceuticals Incorporated focused on discovering and developing novel RESTORAC small molecules for TPS. Under the terms of the agreement, Stablix will apply its proprietary platform toward the discovery of novel heterobifunctional small molecule drug candidates gainst specified targets involved in multiple diseases. Vertex will receive an exclusive license to certain molecules identified under the collaboration and will be solely responsible for development and commercialization. Stablix will receive an upfront payment including a convertible note investment and is eligible for research, development, regulatory and commercial milestones, plus tiered royalties on future net sales on any products that may result from the collaboration. Vertex will be responsible for all research costs associated with the collaboration.