Triple Flag completes acquisition of Orogen Royalties
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Business Wire
6 days ago
- Business Wire
Orogen Therapeutics and Chemspace/Enamine Announce a Strategic Collaboration to Enable Unique REAL-Driven DNA Encoded Small Molecule Libraries
WOBURN, Mass. & KYIV, Ukraine--(BUSINESS WIRE)--Orogen Therapeutics, Inc., a private drug discovery company utilizing its proprietary, AI-enabled DNA encoded library (DEL) technology to identify novel chemical matter against medically and commercially attractive drug targets, Chemspace, LLC, an expert in the generation and exploration of ultra-large chemical datasets, and Enamine, Ltd., a leading worldwide provider of chemical compounds and drug discovery services, announced today a strategic collaboration to design, build, and test novel DNA-encoded libraries (DEL) leveraging Chemspace's chemi-informatics and synthetic capabilities and Enamine's REAL design principles, combined with Orogen's deep DEL expertise, and proprietary AI- and DEL-enabled small molecule drug discovery capabilities. Enamine's REAL compounds are the world's largest collection of make-on-demand small molecules that represents a significant fraction of the synthetically accessible chemical space. Its member molecules are REadily AccessibLe through validated parallel synthesis protocols using qualified in-stock building blocks. Orogen's DEL- and AI-enabled platform, including FocusDEL™ technology, enables rapid, efficient drug screening of billions of chemically diverse compounds to effectively home in on small drug-like molecules against specific targets from a wide range of therapeutic areas and clinical indications. 'We are thrilled to engage in this strategic collaboration to drive new horizons for DEL-based drug development that brings together this powerful combination of technologies – Chemspace-Enamine's vast REAL Space of innovative chemical matter and Orogen's AI- and DEL-enabled small molecule drug discovery platform - to advance a new generation in DEL capability,' stated Mark Pykett, Orogen CEO. 'We are excited by the potential synergy of the two platforms to enhance and accelerate small molecule drug discovery.' "DNA-encoded library (DEL) screening offers a proven valuable alternative for sampling large chemical space for efficient small molecule drug discovery,' stated Sven Wagner, PhD, Vice President of Partnerships at Enamine. 'We are pleased to bring our large and rapidly synthesizable Chemspace/Enamine chemical space into this collaboration with Orogen, a pioneer in DEL-based drug discovery, leveraging AI-enabled DELs. Our dovetailing joint effort will enrich DEL-based drug R&D with a critical component and a large part of chemical space, ready to be mined by researchers around the world, ultimately to enable sooner than later treatments for patients with high unmet needs across therapeutic areas, such as immuno-inflammatory disorders." Under the terms of the collaboration, Chemspace and Orogen will design novel DELs in alignment with the REAL Space foundational principles; Chemspace and Enamine will synthesize and analytically validate these REAL-driven DELs, and Orogen will screen pilot DELs against multiple biological targets. Chemspace and Enamine anticipate the opportunity to provide these libraries to enhance their array of product and service offerings, while Orogen envisions opportunities for multiple novel small molecule candidates aligned with its areas of focus in immuno-inflammatory disorders, GPCRs, and select oncology targets. Artem Evdokimov, PhD, Orogen's head of research, noted, 'We anticipate this collaboration will add a set of much-needed next-generation DELs to the arsenal of early drug discovery tools. Harmonization of DEL designs with REAL space chemistry enables rapid follow-up on screening: off-DNA compounds and thousands of their SAR-expanding chemical space neighbors can be made both expeditiously and economically – accelerating the early discovery process for much-needed novel, safe, and effective medicines.' Olga Tarkhanova, PhD, CEO of Chemspace: 'DEL technology is a powerful approach for efficiently exploring vast chemical space, enabling rapid hit identification, structure-activity relationship (SAR) development, and the discovery of novel binding sites. We are excited to join forces with Orogen, a leader in DEL-based drug discovery, to bring the Chemspace/Enamine chemical space into next-generation DEL design. With this collaboration, we bring the benefits of scalable, make-on-demand combinatorial chemistry to the DEL field, addressing a key bottleneck in moving from encoded hits to optimized compounds. By applying the REAL Space concept to DELs and integrating our proven Make-On-DEmand chemistry, this collaboration aims to simplify off-DNA hit synthesis and optimization, accelerate DMTA (design–make–test–analyze) cycles, and help advance new therapies.' About Orogen Therapeutics Orogen Therapeutics' mission is to deliver groundbreaking clinical solutions to patients with serious unmet medical needs. The company is revolutionizing small-molecule drug discovery through its proprietary platform integrating DNA-encoded libraries (DEL) with massive chemical diversity of billions of compounds, virtual screening and AI-driven computation. The company's proprietary, one-of-a-kind target-specific FocusDEL ™ (patent pending) seeks to innovate the DEL landscape by enabling enriched hit yields from immense chemical spaces. This unique foundation is designed to enable the efficient derivation of novel drug candidates against a broad range of target classes. Orogen's team includes scientists with decades of drug development experience and deep expertise in all aspects of small-molecule R&D, including DNA-encoded libraries, target selection and evaluation, cutting-edge AI and data science. For more information, please visit: About Chemspace Chemspace is a global provider of drug discovery services. We can streamline hit finding by integrating our Computational Chemistry tools, Bioinformatics, and Machine Learning-based services for smarter drug discovery. By exploring ultra-large chemical spaces, we deliver high-quality hit molecules for discovery projects. Our integrated projects combine hit identification services with biological validation, providing a seamless path from hit identification to pre-clinical studies. For more information, please visit: About Enamine Enamine is the leading provider of chemical compounds and a scientifically driven integrated discovery Contract Research Organisation for integrated discovery with unique partnering opportunities in exploring new chemical space. The company combines access to the in-house produced screening compounds (>> (350K in stock) with a comprehensive platform of integrated discovery services in bioinformatics, biology, and chemistry to advance and accelerate the efforts in drug discovery. For more information, please visit: Forward-Looking Statements 'Forward-looking statements' that may be contained in this communication are made within the meaning of federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future performance, and often contain words such as 'expect,' 'anticipate,' 'should,' 'hope,' 'project,' 'estimate,' 'predict,' 'goals,' 'intend,' 'plan,' 'believe,' 'seek,' 'will,' 'would,' 'target, 'outlook,' and similar expressions and variations or negatives of these words. All statements, other than those of historical fact, are forward-looking statements, including statements regarding outlook, expectations and guidance. Forward-looking statements address matters that are uncertain and subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements.
Yahoo
10-07-2025
- Yahoo
Triple Flag completes $305m Orogen acquisition
Canadian streaming and royalty company Triple Flag Precious Metals has finalised the acquisition of Orogen Royalties for C$421m ($305m). In April 2025 Triple Flag made a definitive agreement to acquire all issued and outstanding shares of Orogen Royalties on a fully diluted basis. Orogen shareholders were given the choice to receive either C$1.63 in cash or 0.05355 of a Triple Flag share per Orogen share, in addition to 0.25 shares in a newly formed entity, Orogen Spinco. The total consideration was evenly split between cash and Triple Flag shares, not including the value of Orogen Spinco. Following the shareholder elections, Triple Flag distributed C$171.5m in cash and issued 5.66 million of its common shares. Orogen Spinco inherited all of Orogen's assets and liabilities, excluding the net smelter returns (NSR) royalty on the Arthur gold project in Nevada, US. Triple Flag acquired 6.7 million common shares at C$1.48 each, amounting to C$10m, taking an 11% stake in Orogen Spinco. The company has also secured a 1% NSR royalty on the Arthur gold project. Orogen CEO Paddy Nicol stated: "We maintain our view that the Arthur Gold project is an excellent royalty and has significant potential to become a cornerstone asset for Triple Flag, and shareholders who received Triple Flag shares will maintain exposure to it through their ownership in Triple Flag." "After completing the Transaction, new Orogen Royalties Inc will continue to carry on the same royalty business, operating profitably with its flagship cash-flowing Ermitano royalty in Mexico and portfolio of exciting gold and copper royalties and project assets.' Triple Flag's portfolio has 237 assets, including 17 streams and 220 royalties, with a focus on gold and silver investments. These assets span the Americas and Australia, encompassing 30 producing mines and 207 projects in development and exploration stages. Triple Flag CEO Sheldon Vanderkooy stated: 'We are pleased to announce the completion of this friendly transaction with Orogen. The addition of a 1.0% NSR royalty on the Arthur gold project meaningfully enhances our portfolio with a high-quality gold asset located in a premier jurisdiction. "We are also excited to support Orogen Spinco through our C$10 million investment. This investment gives us exposure to a compelling portfolio of early-stage royalties and partners us with a proven management team with a track record of discovering district-scale assets from disciplined grassroots exploration.' "Triple Flag completes $305m Orogen acquisition" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Business Insider
10-07-2025
- Business Insider
Triple Flag completes acquisition of Orogen Royalties
Triple Flag (TFPM) completed the acquisition of all the issued and outstanding common shares of Orogen Royalties (OGNRF) pursuant to a plan of arrangement. As part of the transaction, Triple Flag acquired Orogen's 1.0% net smelter returns, or NSR, royalty on the Arthur gold project in Nevada being developed by AngloGold Ashanti (AU). Pursuant to the Transaction, Orogen shareholders had the right to elect to receive either C$1.63 in cash or 0.05355 of a Triple Flag share for each Orogen share, and also received 0.25 shares in a newly created company for each Orogen share. Triple Flag paid in aggregate C$171.5M in cash and issued 5,633,629 Triple Flag common shares to Orogen shareholders. Orogen Spinco was transferred all of Orogen's assets and liabilities other than the 1.0% NSR royalty on the Arthur gold project. In conjunction with the completion of the Transaction, Triple Flag invested C$10M to acquire 6,756,757 common shares in the capital of Orogen Spinco at a price of C$1.48 per share, representing an approximate 11% equity interest in Orogen Spinco. Don't Miss TipRanks' Half-Year Sale
