X-Chem has licensed a second drug discovery program to Bayer Pharma pursuant to the multi-target collaboration the companies established in July 2012.
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The latest program comprises several series of small molecule compounds against a cardiovascular drug target.
X-Chem will receive an upfront license fee in addition to payments based on the achievement of defined pre-clinical, 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.
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