RESTON, Va., Aug. 14, 2017 /PRNewswire/ -- Leidos (LDOS) (NYSE: LDOS), a FORTUNE 500® science and technology company, has signed a Memorandum of Understanding (MOU) with Biosortia Pharmaceuticals to explore creating a new business relationship with a focus on identifying and advancing immuno-oncology and other immunotherapeutic opportunities.
Both companies offer existing and future assets in the immunotherapeutic space that will enable them to deliver de-risked assets to a future pharmaceutical partner for development. The companies' assets include compounds derived from microbiome sources, screening assays, and scientific expertise that will focus on moving assets to investigational new drug clinical research for development by the partner. Technologies involved include Biosortia's proprietary microbiome harvesting and mining capabilities and Leidos' big data analytics. Leidos has advanced various immune checkpoint inhibitor peptides that provide unique differentiation from the current therapeutic monoclonal antibodies. When coupled with Leidos' data analytics technologies and capabilities and Biosortia's harvesting and mining technologies, these assets represent a unique opportunity to accelerate the process of identifying and maturing a new class of immunotherapies.
"The high cost of de-risked assets due to the dismal success rates of combinatorial chemistry and the ever-emerging complexities of genomics has encouraged us to pursue a unique and validated approach," said Ross Youngs, Chief Executive Officer of San Diego-based of Biosortia Pharmaceuticals "We have created technologies to deeply explore various microbiome habitats for new cell to cell signaling, which is more closely related to previously successful drug discovery approaches via culturing, that have delivered directly, indirectly or inspirational more than 50% of drugs on the shelf."
"Combining deep analytics and genomics with novel chemistry from the microbiome provides a platform to uncover and create the next generation of immunological drugs," added Matt Vaughan, Senior Vice President of Health Products and Solutions in the Leidos Health Group.
About Biosortia Pharmaceuticals, Inc.
Biosortia was founded in 2012 and is a private, closely held Delaware C-Corp based in San Diego with a focus on immuno-oncology, and immunological therapeutics discovered by a unique access to previously unobtainable natural chemistry in the various microbiome with a focus on delivering new opportunities into drug development. Deep access to previously unobtainable drug like natural chemistry from the microbiome for the cell to cell signaling is key to many opportunities to cure or treat disease.
Leidos is a FORTUNE 500® science and technology solutions and services leader working to solve the world's toughest challenges in the defense, intelligence, homeland security, civil and health markets. The company's 32,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $7.04 billion for the fiscal year ended December 30, 2016. For more information, visit www.Leidos.com.
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in the company's Annual Report on Form 10Q for the quarterly period ended June 30, 2017 and other such filings that Leidos makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.
Jennifer Moffett, Jennifer.email@example.com
Chad Hummell, firstname.lastname@example.org