Harris & Harris Group Inc. (TINY) noted that Ensemble Therapeutics Corporation and Genentech, a member of the Roche Group, announced the initiation of a drug discovery collaboration.
The collaboration will deploy Ensemble's proprietary drug discovery platform, including its Ensemblin collection of over five million macrocycles, to discover novel drug candidates against Genentech's drug targets. Genentech will have the right to develop and commercialize lead molecules arising from the collaboration.
As per the terms of the deal, Ensemble will receive an undisclosed upfront payment and milestone payments upon the successful achievement of certain development milestones.
In addition, Ensemble is eligible to receive royalties on future sales of products that arise from the collaboration.
Harris & Harris Group is an investor in privately held Ensemble Therapeutics.
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