Novartis, Molecular Partners to Develop Therapies for Potential Use Against Covid-19
October 28 2020 - 3:03AM
Dow Jones News
By Mauro Orru
Novartis AG said Wednesday that it has reached an option and
license agreement with clinical-stage biotech company Molecular
Partners AG to develop, produce and commercialize Molecular
Partners' anti-Covid-19 DARPin program.
Novartis said the program consists of two therapeutic
candidates, namely the MP0420 and MP0423.
Molecular Partners is set to receive an upfront payment of 60
million Swiss francs ($66 million), including equity, with a
further payment of CHF150 million, once Novartis agrees to take up
the option to both therapeutic candidates.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
October 28, 2020 02:48 ET (06:48 GMT)
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