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Article: Heptares Comes of Age, Signs $200M Deal with Novartis Fund.
- Article from:
- BIOWORLD Today
- Article date:
- October 13, 2009
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BioWorld Today Correspondent
LONDON - Heptares Ltd. has won the pharma industry seal of approval, landing a $200 million agreement with the Novartis Option Fund, in which it will apply its G-protein-coupled receptor (GPCR) platform technology to generate leads against an unspecified target of interest to the fund's parent company, Novartis AG.
The deal includes an up-front payment and milestones, plus royalties. Specific financial details of the deal were not disclosed. "We are delighted with this. It is a really good validation of our technology to secure a deal around a single target of high interest to Novartis," CEO Malcolm Weir told BioWorld Today.