September 8,South San Francisco, California, Verge Genomics, a clinical-stage biotechnology company leveraging artificial intelligence (AI) and patient tissue data to transform drug discovery, announced a multi-target collaboration with Alexion, AstraZeneca Rare Disease, to identify new drug targets for rare neurodegenerative and neuromuscular diseases. Under the terms of the four-year agreement, Verge will receive up to $42 million in upfront payments, equity investment, and near-term payments, with a potential transaction value of $840 million, plus potential downstream royalties.
Seng H. Cheng, Senior Vice President and Head of Research & Product Development at Alexion, stated: "By leveraging Verge Genomics' AI platform combined with data from patient tissue samples, we see the potential to help researchers identify and validate rare disease therapeutic targets more efficiently. This collaboration will support Alexion’s science-driven innovation and may help accelerate our efforts to discover and develop new medicines for patients with rare diseases."
This is Verge Genomics' second collaboration with a leading global pharmaceutical company, which will utilize CONVERGE™, a full-stack platform that combines highly predictive human tissue datasets with machine learning to identify new targets with a higher probability of clinical success. Verge’s drug discovery platform does not start with cell or animal models but is based on a proprietary library of genomic datasets extracted directly from human tissues, combined with an advanced human-centered biology platform to rapidly advance new data insights for clinical candidates. This approach has been validated by the successful progress of Verge’s lead program in amyotrophic lateral sclerosis (ALS) and will be used to identify new therapeutic targets. Alexion will select high-potential targets for each indication and has the option to license and advance successful targets through clinical development and commercialization.In addition to this collaboration agreement, AstraZeneca will also hold an equity stake on Verge Genomics' robust roster of industry-leading strategic investors, which includes Eli Lilly and Merck Global Health Innovation Fund.July 8, 2021,Verge GenomicsCollaborating with Eli Lilly and Company for three years to research and develop new therapies for treating Amyotrophic Lateral Sclerosis (ALS). Under the terms of the three-year agreement, Verge Genomics received up to $25 million in upfront payments, equity investments, and potential near-term payments, along with an additional $694 million in milestone payments and potential downstream royalties. On December 16, 2021, Verge Genomics completed a $98 million Series B financing round led by BlackRock, with participation from Eli Lilly and Company, Merck Global Health Innovation Fund (Merck GHI), Section 32, and Vulcan Capital. Existing shareholders Threshold Ventures, ALS Investment Fund, Tao Capital Partners, Lifeforce Capital, and others continued their support.Follow the official account below to see the world!
