PeptiDream Inc., has entered into a Technology License Agreement with Shionogi & Co., Ltd., to nonexclusively license PeptiDream’s proprietary Peptide Discovery Platform System (PDPS) technology. Under the terms of the agreement, PeptiDream will receive an undisclosed upfront payment, additional technology access payments, and is eligible to receive payments based on achievement of certain predetermined development milestones for any constrained peptides and/or small molecules discovered from use of the PDPS technology. In addition, PeptiDream is eligible to receive royalties on sales of certain products that arise from use of the PDPS technology.
Similar to the previous 4 technology license agreements, work on peptide-drug conjugates (PDCs) is not included in the non-exclusive license.
PeptiDream will continue to work with Shionogi to identify macrocyclic/constrained peptides against multiple targets of interest selected by Shionogi, and to optimize hit peptides into therapeutic peptides or small molecule products using PeptiDream’s PDPS technology, under the original agreement in February 2016.