OpenBench Assigns Two AI-Discovered Series to HemoShear Therapeutics
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SAN FRANCISCO, June 7, 2022 /PRNewswire/ -- OpenBench, Inc., a pioneer in success-driven hit discovery partnerships, has agreed to assign ownership of two promising chemical series to HemoShear Therapeutics, Inc., a privately held clinical stage biotechnology company, to advance HemoShear's pursuit of an undisclosed rare disease target.
This marks the completion of an artificial intelligence-driven discovery relationship forged between HemoShear and OpenBench that was announced on October 5, 2021. For successfully identifying and confirming novel hit series, OpenBench receives a cash consideration as well as rights to future preclinical and early development milestone payments for drug candidates that may result from this work. In exchange, HemoShear acquires all OpenBench's rights, title, and interest to optimize, develop and commercialize the promising series. Financial terms were not disclosed.
"HemoShear is dedicated to the discovery of drugs for rare metabolic diseases, and we're excited to have contributed to their pursuit of a therapeutic for a disease with high unmet patient need," said OpenBench CTO James Yoder. "We feel confident that we have improved HemoShear's likelihood of success in a discovery campaign and hope to see these series optimized for the clinic."
"Our collaboration with the team at OpenBench has been both innovative and productive providing hits for one of our early drug discovery programs by leveraging the cutting edge OpenBench AI methodologies. Their computational AI approach has been complementary to traditional screening approaches to find robust entry points for our medicinal chemistry team" said Brian Johns, Ph.D., chief scientific officer at HemoShear Therapeutics.
OpenBench is pioneering success-driven hit discovery partnerships. In defiance of the prevailing fee-for-service paradigm, OpenBench bears the full cost of virtual screening, putative hit synthesis, and experimental confirmation, so that our partners only pay for Hits that are proven to be potent and developable. This success-driven model begets greater scientific accountability, drives RandD time and cost efficiency, and is uniquely enabled by OpenBench's proprietary structure-based machine learning platform. OpenBench is currently engaged in partnerships across a range of target classes and therapeutic areas. To explore a success-driven partnership of your own, contact OpenBench at [email protected] or visit https://www.opnbnch.com.
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