Nuevolution Announces New Research Collaboration with Novartis

01-Sep-2009 - Denmark

Nuevolution A/S announced that it has entered into a drug discovery collaboration with Novartis. During the collaboration, Nuevolution will apply its proprietary Chemetics® drug discovery technology to identify novel small molecule leads against drug targets of interest to Novartis. The Chemetics® platform uses innovative DNA labeling to allow fragment-based drug screening at an unprecedented scale.

Under the terms of the agreement, Novartis will provide Nuevolution with an upfront payment, research funding, and milestone payments as candidate molecules progress through preclinical and clinical development and onto the market. In addition, Nuevolution is eligible to receive royalties on the commercial sales of approved products. Further financial details were not disclosed.

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