Novartis and ProFound Therapeutics have entered a four-year partnership focused on discovering and developing first-in-class medicines for cardiovascular diseases13.
The deal offers up to $750 million in milestone payments (biobucks) per each cardiovascular target, along with tiered royalties for ProFound Therapeutics12.
Novartis will pay $25 million upfront and in near-term milestones to ProFound, with the potential for far larger payments based on success per target1.
The collaboration leverages ProFound Therapeutics’ proprietary protein detection platform (ProFoundry) to explore and validate new proteins in the expanded human proteome as novel drug targets14.
The companies have not publicly disclosed how many targets are included in the pact1.
Novartis is targeting under-researched biological mechanisms in cardiovascular disease, aiming to translate cutting-edge scientific discoveries into new therapies14.
This marks another high-profile partnership for ProFound, which also has strategic alliances with Pfizer through Flagship Pioneering for drug discovery in other areas1.
Sources:
1. https://www.fiercebiotech.com/biotech/novartis-pens-profound-pact-offering-750m-biobucks-cardiovascular-target
2. https://www.biospace.com/deals/novartis-makes-potential-750m-bet-per-cardiovascular-disease-target-in-another-flagship-pact
3. https://patrickwareing.com/news/novartis-and-profound-therapeutics-forge-750m-per-target-alliance-for-next-gen-cardiovascular-drugs/
4. https://www.ainvest.com/news/profound-novartis-pioneering-expanded-proteome-revolutionize-cardiovascular-therapeutics-2506/