NEW YORK and BOSTON, April 25, 2023 (GLOBE NEWSWIRE) -- Stablix, Inc., a biopharmaceutical company pioneering targeted protein stabilization (TPS) as a novel therapeutic modality, today announced a strategic collaboration and license agreement with Vertex Pharmaceuticals Incorporated focused on discovering and developing novel RESTORAC™ small molecules for TPS.

Tony Kingsley, CEO, Stablix

Under the terms of the agreement, Stablix will apply its proprietary platform toward the discovery of novel heterobifunctional small molecule drug candidates (RESTORACs™) against specified targets involved in multiple diseases. Vertex will receive an exclusive license to certain molecules identified under the collaboration and will be solely responsible for development and commercialization. Stablix will receive an upfront payment including a convertible note investment and is eligible for research, development, regulatory and commercial milestones, plus tiered royalties on future net sales on any products that may result from the collaboration. Vertex will be responsible for all research costs associated with the collaboration.

“We’re thrilled to partner with the outstanding scientists and drug developers at Vertex to expand the potential applications of our platform,” said Tony Kingsley, CEO of Stablix. “We believe we are leaders in the new field of targeted deubiquitination, which will be a valuable new therapeutic modality opening new areas of biology in order to discover, develop and bring innovative treatments to patients. With our enhanced financial resources and growing capabilities, Stablix is well-positioned to advance new therapies toward the clinic.”

“We are excited to partner with Stablix to explore the potential of the new modality of targeted protein stabilization as we continue to broaden the tools and technologies we have available to develop transformative medicines,” said Mark Bunnage, D.Phil., Senior Vice President and Head of Research at Vertex.

About the Stablix Platform

Dysregulation of protein homeostasis and protein activity are common causes of disease. Central to these processes, ubiquitin serves as a master regulator of both degradative pathways including the ubiquitin-proteosome system, and non-degradative pathways, such as protein trafficking and initiation of signaling. Deubiquitinases (DUBs) serve as nature’s ubiquitin editors by removing ubiquitin from target proteins to modulate protein levels and activity. While there are ~100 human DUBs, the class has been largely underutilized for drug development.

Stablix has built a platform to harness the full potential of ubiquitin pathways in drug discovery by developing Targeted Deubiquitination Therapeutics (TDTs). Our proprietary DUB Atlas enables selection of the optimal DUB-target pairing, generation of proprietary small molecule DUB recruiters, and ultimately development of heterobifunctional TDTs. Targeted deubiquitination can lead to targeted protein stabilization (TPS), potentially restoring deficient protein levels such as in genetic disease, haploinsufficiency, or restoration of tumor suppressors. With this platform, Stablix is advancing a new frontier of medicine that unlocks previously unreachable biology.

About Stablix

Stablix, Inc. is a biotechnology company establishing a new paradigm for tackling diverse diseases by harnessing the power of the body’s own cellular machinery through Targeted Deubiquitination Therapeutics (TDT). The company is currently advancing its lead programs towards clinical studies. Stablix has raised $78M from leading investors including Versant Ventures, New Enterprise Associates (NEA), Cormorant Asset Management, Euclidean Capital and Alexandria Venture Investments. The Stablix platform is based on the work of Henry Colecraft, Ph.D., Professor of Physiology and Cellular Biophysics, and Professor of Pharmacology, Columbia University Irving Medical Center. Stablix is co-located at sites in New York City and Boston. Stablix was named a 2021 “Fierce 15” company by Fierce Biotech. www.stablix.com info@stablix.com

Contacts:

Media:
Heather Shea
Catalytic Agency
+1 617-286-2013
heather.shea@catalyticagency.com

Investors:
Andrew Funderburk
Kendall Investor Relations
afunderburk@kendallir.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2bf66a33-92c6-4c6d-bcff-fa152267fe1f

Source:- Globenewswire