Strasbourg, France, and Ness Ziona, Israel : Inoviem Scientific, a Contract Research Biotech (CRB), today announces a service-based partnership with XoNovo, a preclinical-stage biopharmaceutical company developing a proprietary small molecule for the treatment of neurodegenerative diseases. Financial terms of the partnership were not disclosed.
The partnership aims to generate crucial information concerning XoNovos lead compound, XN001, a patented new chemical entity (NCE); an autophagy modulator for the treatment of neurodegenerative diseases. According to the agreement, Inoviem will apply its expertise and cutting-edge technological solutions to isolate and identify XN001s therapeutic targets and elucidate its mode of action.
This partnership is in line with Inoviems long-term strategy, focused on broadening international connections, lowering risks in drug discovery and development projects, and supporting its partners in bringing promising therapeutics to the clinic with the ultimate goal of improving patients lives.
The synergy between the two companies will enable XoNovo to strengthen its pipeline/portfolio by validating XN001s mode of action.
For Inoviem, this agreement is a service-based partnership. The company plans to continue such collaborations in the future. This win-win agreement paves the way for the collaborative strategy that Inoviem Scientific is keen to develop.
There is uncertainty in all drug development processes. We must think anew. The goal of our collaboration with XoNovo is to provide a therapeutic solution for patients with neurodegenerative diseases, said Dr. Pierre Eftekhari, founder and president of Inoviem Scientific.
We are excited to collaborate with Inoviem, and, through this partnership, accelerate our technology with the aim of curing neurodegenerative diseases using the exciting novel mechanism of autophagy enhancement, said Dr. Ido Nevo, XoNovos CEO.