Schrödinger

Schrödinger operates a physics-based software platform to provide computational services for drug discovery. Its platform has been built on the foundation of physics, combined with the rapid data processing and scaling advantages of machine learning. Schrödinger claims physics-based simulation is capable of predicting the binding affinity of a drug molecule with a high degree of accuracy, which can, in turn, lead to the accelerated discovery of new efficacious therapies. 

The company operates in two main segments: 1) a software segment that licenses its platform for molecular discovery in the life sciences and materials science industries, and 2) a drug discovery segment which focuses on creating a portfolio of preclinical and clinical programs, both internally and through collaborations. 

As of March 2024, the company had seven wholly-owned disclosed programs, with two in Phase 1 clinical stage, one in preclinical stage, and the rest in the discovery stage. In addition, the company had several undisclosed programs, which are in the discovery stage. 

Key customers and partnerships

Schrödinger has established drug discovery collaborations with various pharma companies, including Sanofi, Loxo Therapeutics, Bristol Myers Squibb, Lilly, Nimbus Therapeutics, Morphic Therapeutic, Structure Therapeutics, and Takeda Pharmaceutical. 

Further, through the software segment, the company has supported the development of two drugs in collaboration with Agios which were approved by the FDA in 2017. 

Funding and financials

The company filed for an IPO in February 2020, raising USD 202 million. For FY2023 , the company recorded revenue of USD 216.7 million, a 19.7% YoY increase. Further, the company recorded a net income of USD 40.7 million in FY2023, compared to a net loss of USD 149.2 million in FY2022.