(RTTNews) - Novartis and Molecular Partners AG announced a collaboration in the form of an option and license agreement to develop, manufacture and commercialize Molecular Partners' anti-COVID-19 DARPin program. Under the collaboration, Novartis has been granted an option to in-license global rights of MP0420 and MP0423 - multi-targeted direct acting antiviral therapeutic candidates with potential efficacy against COVID-19.
Molecular Partners will receive an upfront payment of 60 million Swiss francs, including equity. Molecular Partners will also receive a further payment of 150 million francs, upon Novartis electing to take up the option to both therapeutic candidates, and significant royalty on sales.
During the option period, Molecular Partners will conduct phase 1 clinical trials for MP0420, and perform all remaining preclinical work for MP0423 and Novartis will conduct phase 2 and phase 3 clinical trials, with Molecular Partners as sponsor of these trials. Upon option exercise, Novartis would be responsible for all further development and commercialization activities.
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