Novartis, PeptiDream Ink Potential $2.7B Deal to Expand Radioligand Discovery Partnership

Published: Apr 30, 2024 By Tyler Patchen

Novartis building_iStock, JHVEPhoto

Pictured: Novartis’ logo outside its building in San Diego, California/iStock, JHVEPhoto

Novartis on Tuesday expanded its peptide discovery collaboration with Japanese biotech PeptiDream in a deal worth more than $2.7 billion in milestone payments, making it the latest move in the red hot radiopharma sector.

Under the agreement, PeptiDream use its technology–the Peptide Discovery Platform System—to find new macrocyclic peptides against targets that Novartis has selected. These targets can be conjugated into radioligand therapies (RLTs), which may have other therapeutic or diagnostic uses. 

Novartis is paying PeptiDream $180 million upfront and is also eligible to receive $2.71 billion in milestone payments. The biotech may also net tiered royalties on any product sales.

PeptiDream’s stock price jumped 24% on the news in Tuesday trading. 

Novartis and PeptiDream have…
Click here to view original post

Click Here to Publish/Feature Your Company or Product News with Biotech Networks