OpenBench and ORIC Pharmaceuticals Launch Success-Driven Discovery Collaboration
OpenBench and ORIC Pharmaceuticals (NASDAQ: ORIC) have launched a collaborative effort to enhance early drug discovery for an undisclosed oncology target.
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Rhea-AI Summary
OpenBench and ORIC Pharmaceuticals (NASDAQ: ORIC) have launched a collaborative effort to enhance early drug discovery for an undisclosed oncology target. The partnership aims to leverage OpenBench's AI-enabled success-driven small molecule discovery approach and structure-based machine learning platform to complement ORIC's resistance platform in targeting cancer-specific vulnerabilities.
Under the agreement, OpenBench will receive payment for identifying novel small molecule chemotypes that meet ORIC's specified activity and developability criteria. In return, ORIC gains exclusive rights to the discovered leads and access to OpenBench's proprietary screening technology for the target of interest. While specific financial terms were not disclosed, this collaboration represents a strategic move to combine OpenBench's innovative discovery platform with ORIC's expertise in addressing mechanisms of therapeutic resistance in oncology.
Positive
- Potential for accelerated drug discovery process in oncology
- Access to OpenBench's AI-enabled platform and proprietary screening technology for ORIC
- Exclusive rights to discovered leads for ORIC
- Payment structure tied to successful identification of novel small molecule chemotypes
Negative
- None.
Details
News Market Reaction – ORIC
The recorded move for ORIC in the trading session of this news was +1.10%.
Data tracked by StockTitan Argus. Session date unavailable.
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Under the terms of the agreement, OpenBench will receive payment upon the identification of novel small molecule chemotypes and the experimental confirmation that they meet certain activity and developability criteria defined by ORIC®. In exchange, ORIC will gain full and exclusive rights to discovered leads and access to OpenBench's proprietary screening technology with respect to the target of interest. Detailed financial terms were not disclosed.
"We are excited to join forces with the ORIC Pharmaceuticals team to enrich their early discovery efforts against an undruggable target," said OpenBench CEO James Yoder. "We are confident OpenBench's success-driven early discovery platform will complement ORIC's innovative approach to tackling therapeutic challenges."
About OpenBench
OpenBench is pioneering success-driven collaborations to bring rigor to AI-enabled early discovery. OpenBench bears the cost of virtual screening, custom synthesis, and experimental confirmation to ensure that the first dollar our partners spend is to purchase potent, developable leads. OpenBench's proprietary structure-based machine learning platform uniquely enables the success-driven model and has succeeded in finding quality, progressible chemical matter for more than
Contact: James Yoder, contact@opnbnch.com
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SOURCE OpenBench
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