Swiss pharmaceutical giant Novartis has signed a deal worth up to $1 billion with U.S.-based biotech firm Matchpoint Therapeutics to develop oral therapies for inflammatory diseases.
Under the agreement announced Thursday, Matchpoint will lead the research and early-stage development of new drugs targeting a specific protein linked to inflammation. By blocking this protein, the treatments aim to reduce the production of inflammatory signals in the body.
To support the program, Matchpoint will receive up to $60 million in upfront and research funding. The total potential value of the collaboration could reach $1 billion, including an option exercise fee and milestone-based payments for development and commercialization achievements.
If Novartis chooses to exercise its licensing option, it will gain exclusive global rights to develop and commercialize any products resulting from the collaboration.