EMERYVILLE, Calif., May 16, 2024 (GLOBE NEWSWIRE) -- Totus Medicines, a company revolutionizing small molecule drug discovery and development using covalent DNA-encoded libraries and AI tools, announced today it has entered into a multi-target research collaboration with Eli Lilly and Company to discover small molecule drug candidates against undisclosed targets.
Under the terms of the agreement, Totus Medicines will use its proprietary OmniDEL platform to generate high-quality covalent compounds against Lilly targets. Subsequently, Lilly and Totus will have options to exclusively pursue preclinical and clinical development and commercialization of compounds identified from the collaboration and receive milestone payments.
“We are thrilled to partner with Lilly, a world-class medicine company, and apply our revolutionary OmniDEL platform to identify small molecule drug candidates for targets of interest across multiple therapeutic areas,” said Nassim Usman, Ph.D., President & CEO of Totus Medicines. “This collaboration validates our strategy of using our platform to generate drug candidates for partners as well as our own pipeline, which consists of a covalent PI3Kα inhibitor in Phase 1 and an AKT covalent inhibitor in preclinical development.”
About Totus Medicines
Totus Medicines is discovering and developing small molecule medicines using a novel DNA-encoded covalent library technology combined with artificial intelligence/machine learning (AI/ML). With the unprecedented ability to screen billions of drug candidates against multiple targets simultaneously, the company's novel platform can find drugs that are dramatically superior to molecules discovered through previous technologies, including drug candidates for currently undrugged and difficult to drug targets. Totus is developing TOS-358, a covalent PI3Kα inhibitor in a Phase 1 clinical trial and has also developed a potent and selective covalent inhibitor of AKT in preclinical development.
For more information, please visit totusmedicines.com and follow Totus on LinkedIn and Twitter/X.
Contact:
ir@totusmedicines.com
External Contact:
Brian Mullen
LifeSci Advisors, LLC
Managing Director
bmullen@lifesciadvisors.com
+1.203.461.1175
