Cambridge, UK, 05 January 2023: PhoreMost Ltd., has triggered a milestone payment in its multi-project target discovery collaboration with Boehringer Ingelheim. This was achieved by identifying and validating novel targets supporting Boehringer Ingelheim’s ambition to develop first-in-class therapies, to transform patients’ lives.

PhoreMost and Boehringer Ingelheim entered a multi-project collaboration back in January 2020¹, with PhoreMost deploying its in-house expertise and next-generation phenotypic screening platform, SITESEEKER^®, towards disease-relevant pathways selected by Boehringer Ingelheim.

“The success of this project to date provides significant validation of our SITESEEKER platform and its capabilities in novel target discovery and is testament to the expertise and great collaborative efforts of the teams at both PhoreMost and Boehringer Ingelheim. We are proud to contribute to the development of much needed new therapies for patients by delivering on this first key milestone and look forward to continuing this very fruitful partnership” said Dr. Neil Torbett, Chief Executive Officer, PhoreMost.

Based on the targets discovered by PhoreMost, the development of potential new therapies will now be continued at Boehringer Ingelheim leading to potential further success based pre-clinical, clinical and commercial milestone payments.

1. Press release: PhoreMost and Boehringer Ingelheim enter multi-project drug discovery collaboration (7^th January, 2020) https://www.phoremost.com/news/phoremost-and-boehringer-ingelheim-enter-multi-project-drug-discovery-collaboration   

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