Nuevolution Enters Into Research Collaboration With Novartis
Collaboration to use Chemetics drug discovery technology, to identify small molecule leads against drug targets of Novartis' interest
Nuevolution has entered into a research collaboration with Novartis. Under the collaboration, Nuevolution will apply its proprietary Chemetics drug discovery technology to identify novel small molecule leads against drug targets of interest to Novartis.
In addition to that Nuevolution will screen its multi-million member diverse fragment based screening libraries for hit identification. Through the design, synthesis and screening of target focused Chemetics follow-up libraries, the parties will also work together to perform hit-to-lead optimization.
Under the terms of the agreement, Novartis will provide Nuevolution with an upfront payment, research funding, and milestone payments as candidate molecules progress through preclinical and clinical development and onto the market.
Moreover, Nuevolution will also receive royalties on the commercial sales of approved products from Novartis.
Alex Gouliaev, CEO of Nuevolution, said: We are delighted that Novartis has elected to enter this collaboration with Nuevolution. We look forward to an exciting and fruitful outcome of the collaboration.
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