Novartis, Molecular Partner team up on COVID-19 candidates

Credit: REUTERS/ARND WIEGMANN

Novartis has licenced global rights to two Molecular Partners antiviral drugs that have potential to treat COVID-19 patients, the two companies said on Wednesday.

ZURICH, Oct 28 (Reuters) - Novartis NOVN.S has licenced global rights to two Molecular Partners MOLN.S antiviral drugs that have potential to treat COVID-19 patients, the two companies said on Wednesday.

Molecular Partners will get an upfront payment of 60 million Swiss francs ($66.2 million), a potential milestone payment of 150 million francs, and a "significant royalty" on sales of the drugs called MP0420 and MP0423.

($1 = 0.9070 Swiss francs)

(Reporting by John Miller)

((Michael.Shields@thomsonreuters.com; +41 41 528 3630; Reuters Messaging: michael.shields.thomsonreuters.com@reuters.net))

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