PRESS RELEASE / NEWS
Veritas in Silico Signs Joint Drug Discovery Research Agreement with Shionogi
Tokyo, Japan, November 25, 2021 –Veritas In Silico Inc. announced that it has entered into the joint drug discovery research agreement with Shionogi & Co., Ltd. for the discovery of innovative small molecule drugs targeting messenger RNA (mRNA).
Veritas In Silico has a drug discovery platform, ibVIS, which enables the discovery of small molecule drugs by targeting substructures on mRNA instead of conventional protein targets and has been conducting drug discovery research in collaboration with pharmaceutical companies since 2018. Shionogi, as a drug discovery-oriented pharmaceutical company, has developed its technologies on small molecule drug discovery, and aims to create innovative new drugs to meet unmet medical needs by incorporating novel technologies. Veritas In Silico’s ibVIS platform meets Shionogi’s drug discovery needs, leading to the conclusion of the joint drug discovery research agreement.
Under the agreement, Shionogi and Veritas in Silico will jointly conduct multi-year mRNA-targeted drug discovery research on multiple genes related to infectious diseases and psychiatric and neurological disorders, which Shionogi has designated as priority research areas, from the identification of target substructures on mRNA to the discovery of drug candidate compounds that act on the target substructures and show pharmacological effects in animal models. Shionogi will acquire the exclusive right to negotiate for the worldwide development, manufacturing, distribution, and marketing of the drug candidate compounds. Veritas In Silico will receive an upfront payment and research expenses upon execution of this agreement. In addition, Veritas In Silico may receive up to total of 85 billion yen in milestone payments based on the progress of the development and commercialization, and royalties based on the sales amount.
“We are pleased to be working on mRNA-targeted small molecule drug discovery with Shionogi, a company with advanced technology and a strong track record in small molecule drug discovery,” said Shingo Nakamura, Representative Director and CEO of Veritas In Silico. “We will devote ourselves to this joint drug discovery research with Shionogi so that we can deliver new drugs that meet unmet medical needs of patients as soon as possible.”
About Shionogi & Co., Ltd.
Shionogi has formulated an R&D strategy for new value creation in its mid-term management plan, Shionogi Transformation Strategy 2030 (STS2030), and is working to create innovative solutions to infectious diseases and psychiatric and neurological disorders, the disease areas in which Shionogi has its strength, as well as diseases with significant social needs. Shionogi is also taking on the challenge of expanding new modalities and striving to provide a variety of treatment options. For more information on Shionogi, please visit the website at https://www.shionogi.com/global/en/
About Veritas In Silico Inc.
Veritas In Silico as a pathfinder to open up new areas of drug discovery has established “ibVIS”, a drug discovery platform for mRNA-targeted small molecule drugs and nucleic acids and is conducting joint drug discovery research with several Japanese pharmaceutical companies. Veritas In Silico aims to realize a warm and hopeful society through next-generation drug discovery targeting mRNA. For more information on Veritas In Silico, please visit the website at https://www.veritasinsilico.com/en/
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