Schrödinger Announces Strategic Collaboration With Thermo Fisher Scientific to Expand Structure-Based Drug Discovery to Novel Targets Using Cryo-EM
Schrödinger (Nasdaq:SDGR) today announced a strategic collaboration with Thermo Fisher Scientific to extend the use of cryo-EM in connection with in silico compound screening to accelerate drug discovery.
The collaboration brings together Schrödinger’s physics-based software platform with Thermo Fisher’s world-leading cryo-EM technology to expand the applicability of structure-based drug discovery to a wider array of targets which may not be amenable to structure prediction via x-ray crystallography. Schrödinger will identify drug discovery targets and Thermo Fisher will obtain cryo-EM structures of these targets with bound ligands. Schrödinger will then leverage its advanced computational platform, together with the cryo-EM structures, to identify development candidates.
“This collaboration is of high strategic importance not only to Schrödinger and Thermo Fisher, but to the broad field of drug discovery,” said Robert Abel, Ph.D., Executive Vice President of Science at Schrödinger. “Cryo-EM is a powerful tool and this collaboration will pave the way toward using it on an expanded set of important drug targets.”
“This is an exciting moment for the field,” said Trisha Rice, Vice President and General Manager of Life Sciences at Thermo Fisher. “We’re delighted to be working with Schrödinger to optimize the synergies between cryo-EM’s efficient elucidation of protein structures and the rapid cycles of compound optimization made possible by computational modeling. We expect this collaboration to open new doors for structure-based drug discovery.”
Schrödinger’s industry-leading computational platform to accelerate drug discovery and materials design is deployed by leading biopharmaceutical and industrial companies, academic institutions, and government laboratories worldwide. In addition to this global business, Schrödinger is also applying its computational platform to a robust pipeline of drug discovery programs in collaboration with pharmaceutical companies and has co-founded leading biotech companies. In addition, Schrödinger is using its platform to advance a pipeline of internal, wholly-owned drug discovery programs. Schrödinger’s significant and ongoing investment in basic research continues to drive advances in its computational platform. Founded in 1990, Schrödinger has over 400 employees in its New York City headquarters and around the world. Visit www.schrodinger.com for more information.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 including, but not limited to those regarding our expectations about the speed and capacity of our computational platform, our ability to expand the domain of applicability of our platform, and our ability to leverage new structure prediction technologies to potentially identify new development candidates. Statements including words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "project," "should," "target," "will," "would" and statements in the future tense are forward-looking statements. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Actual results may differ materially from those described in these forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control, including our ability to further develop our computational platform, our reliance upon third-party providers of cloud-based infrastructure to host our software solutions, our reliance upon our third-party drug discovery collaborators, the ability to retain and hire key personnel and the direct and indirect impacts of the ongoing COVID-19 pandemic on our business and other risks detailed under the caption "Risk Factors" and elsewhere in our Securities and Exchange Commission filings and reports, including our Quarterly Report on Form 10-Q for the quarter ending March 31, 2020 filed with the Securities and Exchange Commission on May 13, 2020. Any forward-looking statements contained in this press release speak only as of the date hereof. Except as required by law, we undertake no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events, changes in expectations or otherwise.
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