EDMONTON, Alberta & SAN DIEGO, Calif.--(BUSINESS WIRE)--#48HourDiscovery--48Hour Discovery Inc and RayzeBio today announced the companies have entered a strategic research collaboration to discover and develop novel peptide-based radiopharmaceuticals for the treatment of cancer.
“We are excited to work with a cutting edge biotechnology company like RayzeBio” said Ratmir Derda, CEO of 48Hour Discovery. “For this collaboration project, 48Hour Discovery will identify potent ligands for a series of targets selected by RayzeBio. This project will help us further validate the potential of our billion-scale molecular libraries and cloud-based discovery pipeline. We are looking forward to accelerating the preclinical programs of RayzeBio and providing peptide drug candidates that will advance the radiopharmaceutical field.”
“48Hour Discovery has a promising proprietary platform for novel peptide discovery,” said Ken Song, M.D., CEO of RayzeBio. “We are intrigued by the potential to quickly discover novel binders.”
Under the terms of the agreement, 48HD will receive undisclosed payments. RayzeBio has exclusive rights to develop and commercialize peptides discovered under the collaboration, and an option to further expand the collaboration to include additional targets.
About 48Hour Discovery
Founded in 2017, 48Hour Discovery (48HD) is a Canadian biotechnology company with headquarters in Edmonton, AB and satellite sites in San Diego, California and Seoul, South Korea. The 48HD genetically-encoded platform technology and cloud-based discovery management enables rapid identification of pharmaceutical leads in the billion-scale macrocycle therapeutic space. 48Hour Discovery Inc. has a number of discovery projects underway, including partnerships with five of the top pharmaceutical companies. For additional information please visit: https://48hourdiscovery.com/technology/
RayzeBio is a biotechnology company focused on improving outcomes for people with cancer by harnessing the power of targeted radioisotopes. With a focus on clinically validated solid tumor targets, RayzeBio is developing novel peptide mimetic binders to deliver potent therapeutic radioisotopes such as Actinium-225, an alpha-emitter. The company is backed by a syndicate of sophisticated healthcare investors and was established in 2020. For additional information, please visit www.rayzebio.com
Ratmir Derda, PhD
Ken Song, M.D.
President and CEO