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news.Nerviano Medical Sciences (NMS), the pharmaceutical R&D facility in Italy and one of the oncology-focused, integrated discovery and development companies in Europe, has entered into a license agreement with Novartis.
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Under the terms of the agreement, Novartis will receive exclusive rights to an undisclosed family of oncology compounds discovered and owned by Nerviano.
Novartis will have responsibility to further research, develop and commercialize the compounds.
Nerviano will receive a one time license fee and may receive success milestones and royalty payments for licensed products related to the agreement. Further details and financial terms were not disclosed.
Nerviano Medical Sciences president Alberto Sciume said they are pleased about the new licensing deal with Novartis that marks an additional commercial achievement in their partnering strategy.
"I believe that Nerviano’s expertise in drug discovery may contribute to innovative and valuable products for the oncology market," Sciume said.