NEW YORK--(BUSINESS WIRE)--Schrödinger, Inc. (Nasdaq: SDGR) today announced it has expanded its collaboration with Google Cloud to further increase the speed and capacity of its physics-based computational platform for drug discovery and materials science. This new five-year agreement replaces the previous three-year commitment entered into in November 2019.
This expanded partnership will provide Schrödinger with hundreds of millions of graphics processing unit (GPU) hours, effectively tripling Schrödinger’s previous throughput, and pushing the capacity to the equivalent of the world’s most powerful supercomputers. Schrödinger aims to further accelerate drug discovery and materials design through the application of its large-scale physics-based and machine learning methods.
“This is a pivotal moment for Schrödinger as we seek to strengthen our leadership position in physics-based approaches to molecular modeling. Our initial work last year with Google Cloud demonstrated our ability to apply large-scale computation to significantly accelerate drug discovery programs,” stated Shane Brauner, Schrödinger’s Chief Information Officer. “Our increased commitment provides unmatched computational scale to enable rapid, efficient and accurate exploration of chemical space, with a goal of advancing development programs for our pipeline.”
“We are thrilled to provide best-in-class resources to enable research and the development of life-saving drugs by life science organizations to rapidly advance the next generation of therapies that will transform the lives of patients and their families,” said Joe Miles, Managing Director of Google Cloud Healthcare and Life Sciences. “It has been a pleasure working closely with the Schrödinger team over the last year, and we look forward to continuing a productive partnership.”
Schrödinger is transforming the way therapeutics and materials are discovered. Schrödinger has pioneered a physics-based software platform that enables discovery of high-quality, novel molecules for drug development and materials applications more rapidly and at lower cost compared to traditional methods. The software platform is used by biopharmaceutical and industrial companies, academic institutions, and government laboratories around the world. Schrödinger’s multidisciplinary drug discovery team also leverages its software platform to advance collaborative programs and its own pipeline of novel therapeutics to address unmet medical needs.
Founded in 1990, Schrödinger has over 450 employees and is engaged with customers and collaborators in more than 70 countries. To learn more, visit www.schrodinger.com and follow us on LinkedIn and Twitter.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 including, but not limited to, our expectations about the speed and capacity of our computational platform, and the potential of our platform to enable the discovery of high-quality, novel molecules for drug development and materials applications. Statements including words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "look forward," "may," "might," "plan," "potential," "predict," "project," "should," "target," "will," "would" and statements in the future tense are forward-looking statements. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Actual results may differ materially from those described in these forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control, including our reliance upon third-party providers of cloud-based infrastructure to host our software solutions, our reliance upon our third-party drug discovery collaborators, as well as the other risks and uncertainties identified under the caption "Risk Factors" and elsewhere in our Securities and Exchange Commission filings and reports, including the Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 12, 2020, as well as future filings and reports by us. Any forward-looking statements contained in this press release speak only as of the date hereof. Except as required by law, we undertake no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events, changes in expectations or otherwise.