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Under the terms of the agreement, Graffinity will receive technology access fees and optional payments for follow-up chemistry for the generation of novel, small molecule hits against a number of drug targets. Financial details of the transaction were not disclosed.
Kristina Schmidt, CEO of Graffinity, said: "Our label-free, biophysics-based screening technology has shown to be an important element for companies which choose to work with us.
"With the help of this technology we enable partners, such as Genentech, to explore drug targets that would remain white spaces on the map of drug discovery, if researchers were limited to other conventional high-throughput screening techniques."
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