PhoreMost Ltd.. (6/3/24). "Press Release: PhoreMost Achieves Second Milestone in Target Discovery Alliance with Boehringer Ingelheim". Cambridge.

	Organisation	PhoreMost Ltd.
	Organisation 2	Boehringer Ingelheim (Group)
	Product	drug target identification
	Product 2	SiteSeeker® drug target discovery technology
	Index term	Boehringer–PhoreMost: drug discovery services, 202001– collab €na multi-project target discovery using Siteseeker platform
	Person	Torbett, Neil (PhoreMost 202203– CEO joined 201701 as CBO befire Activiomics + Piramed Pharma)
	Person 2	Rutter, Ben (Zyme Communications 202209)

Milestone payment follows successful target identification and validation in separate project under same collaboration.

PhoreMost Ltd., has triggered a second 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. In this second project, PhoreMost is deploying its in-house expertise and next-generation phenotypic screening platform, SITESEEKER®, towards novel disease-relevant pathways focusing on retinal health, a key research area of Boehringer Ingelheim. The first milestone payment was triggered in January 20232, following successful target identification and validation in a separate project under the same collaboration.

Dr. Neil Torbett, Chief Executive Officer, PhoreMost said: “Achieving this second milestone, in what has been a terrific collaboration between ourselves and the Boehringer Ingelheim team, demonstrates the power of the SITESEEKER platform and the partnership moving forward. We remain very excited about the potential of our technology to identify novel drug targets across a range of therapeutic areas, and to contribute to the development of first-in-class therapeutics for patients in need.”

As with targets previously identified under the collaboration, Boehringer Ingelheim will continue the development of potential new therapies against these targets, 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 (7th January, 2020)

2 - Press release: PhoreMost announces progression of Target Discovery alliance with Boehringer Ingelheim (9th January 2023)

ENDS

Notes to editors:

Dr. Neil Torbett, Chief Executive Officer, PhoreMost
For a high-resolution image please contact Zyme Communications

Media enquiries

PhoreMost:

Dr Ben Rutter
Zyme Communications
E-mail: ben.rutter@zymecommunications.com
Tel: +44 (0)7920 770 935

Dr Neil Torbett
CEO, PhoreMost
E-mail: neil.torbett@phoremost.com

About PhoreMost Ltd www.phoremost.com

Powered by its proprietary SITESEEKER® technology, PhoreMost is developing a pipeline of novel E3-ligase based ‘next-generation’ degrader therapeutics.

Targeted Protein Degradation (TPD) is a promising new way to eliminate toxic or disease-associated targets from cells, with degradation-based therapies now becoming an integral approach to tackling undruggable targets. However, despite there being over 600 known E3 ligases, the pharma industry is currently reliant upon a very small number, such as Cereblon, for degrader-based drug development.

Harnessing the SITESEEKER platform, PhoreMost is progressing a portfolio of novel degrader programmes specifically tailored to identify functionally active binding sites on novel E3 ligases in oncology and inflammatory diseases. This unique ‘function-first’ approach provides the Company with the ability to unlock TPD’s full potential, enabling the discovery and progression of E3 ligases with both target-specific and tissue-selective activities.

PhoreMost also has a number of disclosed alliances with partners, including: Roche, Otsuka, Boehringer Ingelheim and Sentinel Oncology.

Follow PhoreMost on Twitter @PhoreMostLtd and LinkedIn @PhoreMost

Record changed: 2024-06-27