OpenBench and ORIC Pharmaceuticals Launch Success-Driven Discovery Collaboration
SAN FRANCISCO, Sept. 17, 2024 /PRNewswire/ — OpenBench, Inc., a pioneer in AI-enabled success-driven small molecule discovery partnerships, today announced the launch of a collaboration with ORIC Pharmaceuticals, Inc. (NASDAQ: ORIC), a clinical stage oncology company focused on developing treatments that address mechanisms of therapeutic resistance. The parties aim to apply OpenBench’s success-driven discovery approach and structure-based machine learning platform to enrich early discovery efforts against an undisclosed target identified by ORIC’s resistance platform to target cancer-specific vulnerabilities.
Under the terms of the agreement, OpenBench will receive payment upon the identification of novel small molecule chemotypes and the experimental confirmation that they meet certain activity and developability criteria defined by ORIC®. In exchange, ORIC will gain full and exclusive rights to discovered leads and access to OpenBench’s proprietary screening technology with respect to the target of interest. Detailed financial terms were not disclosed.
“We are excited to join forces with the ORIC Pharmaceuticals team to enrich their early discovery efforts against an undruggable target,” said OpenBench CEO James Yoder. “We are confident OpenBench’s success-driven early discovery platform will complement ORIC’s innovative approach to tackling therapeutic challenges.”
About OpenBench
OpenBench is pioneering success-driven collaborations to bring rigor to AI-enabled early discovery. OpenBench bears the cost of virtual screening, custom synthesis, and experimental confirmation to ensure that the first dollar our partners spend is to purchase potent, developable leads. OpenBench’s proprietary structure-based machine learning platform uniquely enables the success-driven model and has succeeded in finding quality, progressible chemical matter for more than 90% of targets we have taken on to date. To learn more, contact OpenBench at discovery@opnbnch.com or visit www.opnbnch.com.
Contact: James Yoder, contact@opnbnch.com
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