Under the terms of the deal, Stablix will use its platform to discover new heterobifunctional small molecule drug candidates (RESTORACs) against specified targets which are involved in several diseases.
Vertex will get an exclusive licence to certain molecules, which will be identified under the collaboration.
Additionally, the company will handle the development and commercialisation along with research costs associated with the collaboration.
As per the terms of the agreement, Stablix will get an upfront payment including a convertible note investment.
The company is also eligible to receive research, development, regulatory and commercial milestones, along with the tiered royalties on future net sales of any products that are resulted from the partnership.
Stablix CEO Tony Kingsley said: “We’re thrilled to partner with the outstanding scientists and drug developers at Vertex to expand the potential applications of our platform.
“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.”
The company’s platform has been developed to harness the complete potential of ubiquitin pathways in the discovery of drugs by developing Targeted Deubiquitination Therapeutics (TDTs), that can lead to targeted protein stabilisation (TPS).