SAN DIEGO, Jan. 31, 2017 /PRNewswire/ -- ChemDiv Inc. announced today that it has entered into a hit identification collaboration with Janssen Research & Development, LLC (Janssen) to identify potent hit series for a range of targets across multiple therapeutic areas. Under the terms of the agreement, Janssen is granted open-ended access to ChemDiv's discovery chemistry platform. In return, ChemDiv will receive access fees and will be eligible for undisclosed milestone payments based on successful identification of new chemical hit series.
Ron Demuth, General Manager of ChemDiv, commented, "The fact that this is ChemDiv's fifth major collaboration under this innovative model highlights its scientific and commercial advantages, and serves as a testament to the value ChemDiv consistently delivers to the industry partners. Opening up highly relevant new chemistry space and expansion of its broad discovery resources has been ChemDiv's laser focus for the past two decades. We are extremely pleased to be recognized as an industry leader by long-standing and trustworthy partners such as Janssen. In contrast to traditional unit-pricing models and fee-for-service arrangements common to discovery and synthetic chemistry library procurement, this new economic model minimizes the Janssen cost of acquiring a key research resource, while appropriately rewarding ChemDiv based on the productivity of our chemistry. The arrangement fulfills our goal of helping Janssen, and all our partners, to develop potent medicines and remain at the forefront of drug discovery and development."