FIMECS was Awarded The Global Health Innovative Technology Fund
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Kanagawa, Japan, 9th, November 2021 – FIMECS, Inc. (“FIMECS”) a private biotechnology company creating a new class of drugs based on targeted protein degradation, today announced that
FIMECS was selected by The Global Health Innovative Technology (GHIT) Fund as a partner to develop a new lifesaving drug for malaria.
In this project, National Center for Genetic Engineering and Biotechnology (BIOTEC) will lead this project to address the issue of drug resistance to antimalarial drugs and develop and demonstrate targeted protein degradation using small chimeric molecules as a novel modality with a new mechanism of action. GHIT Fund will make investment 83,858,773 JPY for two years for this project.
By utilizing FIMECS’proprietary platform technology, RaPPIDS™, we expect to contribute to solving a growing concern of malaria.
The detail of this project: https://www.ghitfund.org/investment/portfoliodetail/detail/196/en
About GHIT Fund
The first of its kind in Japan, the GHIT Fund is an international public-private partnership between the Government of Japan, multiple pharmaceutical companies, the Bill & Melinda Gates Foundation, Wellcome Trust, and United Nations Development Programme (UNDP). The GHIT Fund invests in, and manages a portfolio of, product development partnerships aimed at creating new and improved tools to prevent, diagnose, and treat the infectious diseases—such as HIV/AIDS, malaria, tuberculosis, and neglected tropical diseases—that disproportionally afflict the world’s poorest people. The GHIT Fund mobilizes Japanese pharmaceutical companies, academic and research organizations to engage in the effort to create new drugs, vaccines, and diagnostics.
Press release from GHIT Fund: https://www.ghitfund.org/newsroom/press/detail/328/en
About FIMECS, Inc.
FIMECS, Inc. is developing a new class of drugs based on targeted protein degradation for the currently ‘undruggable’ targets in immuno-oncology and oncology areas. The company became able
to discover drug candidates for inducing the degradation of disease-relevant targeted proteins by integrating proprietary E3 ligase binders and RaPPIDS™ platform. This drug discovery platform will help providing drugs to the patients all over the world through various internal and collaboration projects.
RaPPIDS™ (Rapid Protein Proteolysis Inducer Discovery System) is one of the proprietary drug discovery platforms of FIMECS, Inc. used to generate therapeutic candidates of the targeted protein
degrader. The platform allows synthesizing and evaluating various degraders quickly based on the company’s proprietary know-how and diversity-oriented synthesis, and delivery of the drug candidates with the best combination of target protein binders, linkers, and E3 ligase binders.
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FIMECS, Inc. Media and Investor Contact:
26-1, Muraoka-Higashi 2-chome, Fujisawa, Kanagawa 251-0012, Japan