15 February 2023 - - US-based drug discovery company Schrödinger Inc. (NASDAQ: SDGR) has received an USD 111.3m cash distribution from Nimbus Therapeutics, LLC in connection with Japanese pharmaceutical company Takeda's acquisition of Nimbus Lakshmi, Inc., a wholly-owned subsidiary of Nimbus, and its tyrosine kinase 2 inhibitor NDI-034858, the company said.

NDI-034858 is being evaluated for the treatment of multiple autoimmune diseases following positive Phase 2b results in psoriasis.

Schrödinger expects to report the first cash distribution as a gain on equity investments in the company's first quarter 2023 financial statements.

Schrödinger expects to receive a second distribution of approximately USD 36m, also related to Takeda's USD 4bn upfront payment to Nimbus, in the second quarter of 2023, for a total cash distribution of approximately USD 147.3m.

Since Nimbus was founded, Schrödinger and Nimbus have collaborated on several programs, including the ACC inhibitor program that Gilead Sciences, Inc. acquired from Nimbus in 2016. As of December 31, 2022, Schrödinger's equity stake in Nimbus was 3.8% on a fully diluted basis.

Schrödinger has developed a physics-based computational platform that enables discovery of novel molecules for drug development and materials applications more rapidly and at lower cost compared to traditional methods.

The software platform is licensed by biopharmaceutical and industrial companies, academic institutions, and government laboratories around the world.

Schrödinger's multidisciplinary drug discovery team also leverages the software platform to advance a portfolio of collaborative and proprietary programs to address unmet medical needs.

Founded in 1990, Schrödinger has more than 800 employees and is engaged with customers and collaborators in more than 70 countries.