Bayer expands drug discovery collaboration with X-Chem

Privately held US biotech X-Chem has entered into an expanded global drug discovery collaboration started in 2012 across multiple therapeutic areas and target classes with German pharma major Bayer (BAYN: DE).

The new agreement extends Bayer’s access to X-Chem’s DEX technology which is based on DNA-encoded libraries of small molecules with more than 120 billion molecules. The aim of the collaboration is to discover innovative lead structures for complex drug targets in areas of high unmet medical need.

Deal worth $528 million plus royalties to X-Chem