KemPharm (NSDQ:KMPH) said today that it inked a collaboration with twoXar to develop prodrug-based therapies for an array of therapeutic indications.
According to the deal, twoXar’s artificial intelligence-based drug discovery technology will be used alongside KemPharm’s Ligand Activated Therapy platform to identify and develop new prodrug therapies.
In conjunction with its deal with twoXar, KemPharm also inked a research and license deal with twoXar subsidiary Novoxar to develop a prodrug that could form the basis of a target drug product candidate for Novoxar. The companies have not disclosed the therapeutic area that they are targeting with this investigational prodrug.
“Today’s announcement of a technology collaboration between twoXar and KemPharm, and the related research and license agreement with Novoxar, provide KemPharm’s team with another opportunity to apply our prodrug expertise to a potentially under-served therapeutic area, and ultimately bring potential new benefits to patients,” Travis Mickle, KemPharm’s president & CEO, said in prepared remarks. “We believe this collaboration has the potential to create long-term value for our shareholders by potentially extending KemPharm’s reach into new therapeutic areas, creating long-term patent protection and, together with twoXar, further de-risk and accelerate the product development cycle.”
“KemPharm’s LAT technology provides a path to creating unique and valuable drug candidates,” twoXar’s co-founder & CEO Andrew Radin added. “The KemPharm team’s technology and drug development experience combined with twoXar’s discovery technology enables a route to greater efficiency in drug development.”
KMPH shares were trading at $2.33 apiece in mid-morning activity today, down -4.1%.
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