X-Chem licenses second cardiovascular drug discovery program to Bayer

Privately-held biotech firm X-Chem has licensed a second drug discovery program to German pharma major Bayer (BAYN: DE) under the multi-target collaboration the companies established in July 2012. The latest program comprises several series of small molecule compounds against a cardiovascular drug target.

Under the terms of this new accord, X-Chem will receive an undisclosed upfront license fee in addition to payments based on the achievement of defined preclinical, clinical and sales milestones, as well as royalties. The financial terms of the license are not disclosed and are commensurate with terms X-Chem has established in its collaborations with other major pharmaceutical companies.

“This license further validates the innovative nature of X-Chem’s team and approach,” said Hanno Wild, senior vice president and head of candidate generation and exploration at Bayer HealthCare Global Drug Discovery.