Schrödinger Provides Update on Progress Across the Business and Outlines 2025 Strategic Priorities
Summary
We advanced the capabilities of our computational platform and leveraged the synergies in our business, which included signing a multi-target research collaboration and expanded software licensing agreement with Novartis. We are pleased another innovative pharmaceutical company is engaged with us through both large-scale utilization of our software and through drug discovery collaborations,” stated Ramy Farid, Ph.D., chief executive officer at Schrödinger. 2024 Achievements Today Schrödinger highlighted several 2024 achievements, including the following: • Launched its initiative to expand the company’s computational platform to predict toxicology risk early in drug discovery, which is being funded by $19.5 million in grants from the Bill & Melinda Gates Foundation • Launched LiveDesign Biologics, an informatics solution for drug discovery teams designing biologics, which builds upon the company’s existing, small molecule-focused, LiveDesign offering • Continued to advance its Phase 1 clinical study of SGR-1505, its MALT1 inhibitor, in patients with relapsed/refractory B-cell lymphomas and its Phase 1 clinical study of SGR-2921, its CDC7 inhibitor, in patients with relapsed/refractory acute myeloid leukemia or high-risk myelodysplastic syndrome • Initiated a Phase 1 clinical study of SGR-3515, its Wee1/Myt1 inhibitor, in patients with advanced solid tumors • Received FDA Fast Track Designation for SGR-2921 for the treatment of relapsed/refractory acute myeloid leukemia • Presented preclinical data on SGR-3515, its Wee1/Myt1 inhibitor, at the EORTC-NCI-AACR Symposium • Announced a multi-target research collaboration and license agreement with Novartis, including a $150 million upfront payment and up to $2.3 billion in milestone payments plus royalties, as well as an expanded software licensing agreement, which substantially increases Novartis’ access to Schrödinger’s computational platform to industry-leading scale • Ajax Therapeutics, a company co-founded by Schrödinger, initiated a Phase 1 clinical trial for its lead program, AJ1-11095 and completed a Series C financing, in which Schrödinger participated as a continuing investor • Morphic Holding, Inc., a company co-founded by Schrödinger, was acquired by Lilly for approximately $3.2 billion, resulting in approximately $48 million in cash for Schrödinger, with Schrödinger remaining entitled to low single-digit royalties on selected pipeline programs, including MORF-057, its orally administered α4β7 inhibitor • Nimbus, a company co-founded by Schrödinger, presented updated Phase 1/2 data for NDI-101150, its HPK1 inhibitor, at the Society for Immunotherapy of Cancer Annual Meeting • Structure Therapeutics, a company co-founded by Schrödinger, presented Phase 1b/2a data for GSBR-1290, its oral GLP-1 agonist, in obesity and diabetes at the Annual Meeting of the America Diabetes Association • Structure Therapeutics also announced the selection of ACC-2671, its novel oral small molecule amylin receptor agonist for further development in obesity • Copernic Catalysts, a Schrödinger research partner in materials science, raised an oversubscribed financing round, in which Schrödinger participated as a continuing investor 2025 Strategic Priorities Today Schrödinger outlined the following strategic priorities for 2025: • Drive increased customer adoption of its computational technology and enterprise informatics platform • Advance the science underlying the platform, including progressing the predictive toxicology initiative • Present initial data from the Phase 1 study of SGR-1505 in patients with relapsed/refractory B-cell lymphomas in the first half of 2025 • Present initial data from the Phase 1 study of SGR-2921 in patients with relapsed/refractory acute myeloid leukemia or high-risk myelodysplastic syndrome in the second half of 2025 • Present initial data from the Phase 1 study of SGR-3515 in patients with advanced solid tumors in the second half of 2025 Schrödinger will report its fourth quarter and full-year financial results and provide 2025 financial guidance on Wednesday, February 26, 2025, after the financial markets close. Actual results may differ materially from those described in the forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control, including the demand for our software solutions, our ability to further develop our computational platform, our reliance upon our third-party drug discovery collaborators, the uncertainties inherent in drug development and commercialization, such as the conduct of research activities and the timing of and our ability to initiate and complete preclinical studies and clinical trials, uncertainties associated with the regulatory review of clinical trials and applications for marketing approvals, the ability to retain and hire key personnel and other risks detailed under the caption “Risk Factors” and elsewhere in our Securities and Exchange Commission filings and reports, including our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 12, 2024, as well as future filings and reports by us. Except as required by law, we undertake no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events, changes in expectations or otherwise.
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