Taro Pharmaceutical Industries Ltd
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Health Care : Pharmaceuticals | Small Cap Value
Based in Israel
Company profile

Taro Pharmaceutical Industries Ltd. (Taro) is a science-based pharmaceutical company. The Company operates principally through three entities: Taro Pharmaceutical Industries Ltd. (Taro Israel), and two of its subsidiaries, Taro Pharmaceuticals Inc. (Taro Canada) and Taro U.S.A. The Company markets over 200 pharmaceutical products in over 25 countries. The Company's owned product brands include Rokacet, with generic names, such as acetaminophen, codeine and caffeine; Topicort, with the generic name, desoximetasone; Etopan, with the generic name etodolac, and Ovide, with the generic name, malathion, among others. The Company's other generic products include acetazolamide, adapalene, alclometasone dipropionate, amiodarone hydrochloride, ammonium lactate, augmented betamethasone dipropionate, cetirizine hydrochloride, clobetasol propionate, clomipramine hydrochloride, clorazepate dipotassium, fluorouracil, ketoconazole, metronidazole, mupirocin and warfarin sodium, among others.

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CHARM Therapeutics Announces Collaboration with Bristol Myers Squibb to Enable and Accelerate Small Molecule Drug Discovery Programs

7:00 am ET March 20, 2023 (BusinessWire) Print

CHARM Therapeutics ("CHARM"), a 3D deep learning biotechnology company discovering and developing transformational medicines, today announced a strategic discovery collaboration with Bristol Myers Squibb (NYSE: BMY) for the identification and optimisation of compounds against Bristol Myers Squibb selected targets. CHARM will leverage DragonFold, its proprietary deep learning platform that identifies novel molecules through protein-ligand co-folding, to discover novel compounds.

"CHARM is excited to collaborate with Bristol Myers Squibb for the discovery of new potential medicines utilising our proprietary DragonFold platform. The CHARM team is looking forward to a productive collaboration," said Laksh Aithani, co-founder and CEO of CHARM.

"We're continually sourcing cutting-edge technologies that will help us accelerate our efforts to treat diseases where patients are suffering and new options are needed," said Michael Ellis, Senior Vice President, Small Molecule Drug Discovery, Bristol Myers Squibb. "We look forward to leveraging CHARM's insights in 3D deep learning to help shape how we discover and advance critical medicines, underscoring our mission of transforming patients' lives through science."

Under the terms of the agreement, CHARM is responsible for the early discovery of compounds against targets of interest to Bristol Myers Squibb, who has the option to license and develop compounds from the collaboration. In addition to an upfront payment and investment in CHARM, which provides significant additional operational runway, CHARM is eligible to receive additional payments should Bristol Myers Squibb exercise its option to any of the program compounds.

"Our collaboration helps validate the innovative potential of the DragonFold platform for rapidly advancing important small molecule discovery programs. We believe that DragonFold will enable the discovery of novel medicines against targets that have thus far proven to be intractable," said Gary D. Glick, Ph.D., Executive Chair of CHARM.

About CHARM Therapeutics

CHARM Therapeutics is a 3D deep learning research company discovering and developing transformational medicines. Founded on 3D deep learning inspired by the breakthroughs of co-founder David Baker, CHARM Therapeutics has developed a proprietary technology based on the first rapid, accurate protein/ligand co-folding algorithm. The company's goal is to use these insights to address challenging targets in cancer and other disease areas and discover and develop new drugs against these targets.

London-based CHARM Therapeutics has raised $50 million to date and is building an interdisciplinary and entrepreneurial team, combining leaders from the fields of AI and biotechnology. It is supported by high quality international investors including OrbiMed, F-Prime Capital, General Catalyst, Khosla Ventures, Axial and Braavos. For more information, please visit: www.charmtx.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20230320005101/en/

SOURCE: CHARM Therapeutics

Madeline Davidshofer
MacDougall Advisors
+1 (781) 235-3060
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