Nuevolution

About Nuevolution

Nuevolution was a biopharmaceutical company focused on the discovery and development of small molecule drugs for chronic inflammatory diseases and oncology. Founded in 2001 by a group of scientists including Stig Løfberg, Alex Gouliaev, and Tue Stolborg, the company was established in Copenhagen, Denmark. The founders' collective expertise in drug discovery and molecular biology was instrumental in developing the company's proprietary platform.

The core of Nuevolution's operations was its patented Chemetics® technology, a drug discovery platform that utilized DNA-encoded libraries to rapidly screen billions of small molecules against therapeutic targets. This platform allowed for the identification of promising drug candidates more efficiently than traditional methods. The company's business model revolved around leveraging this platform to build a pipeline of drug candidates. Revenue was generated through partnerships and licensing agreements with major pharmaceutical companies, as well as advancing its own internal pipeline programs. Its primary therapeutic areas were inflammation and oncology.

In a significant milestone, Nuevolution was acquired by Amgen, a leading biotechnology company, in a deal announced in May 2019 and completed later that year for approximately $167 million (1.61 billion Danish crowns). The acquisition was a culmination of a research collaboration between the two companies that began in 2016, specifically focused on developing treatments for cancer and neurological disorders. Following the acquisition, Nuevolution was integrated into Amgen's global drug discovery operations and was delisted from the Nasdaq Stockholm exchange where it had been publicly traded.