Shots:

• Molecular Partners to receive $65.8M as up front- including equity- and will receive $164.7M as an option payment for both MP0420 and MP0423 along with royalties on sales of therapies. Novartis to get an option to in-license global rights of MP0420 and MP0423
• During the option period- Molecular Partners will conduct a P-I study for MP0420- expected to initiate in Nov’2020- and perform all remaining preclinical work for MP0423 while Novartis will lead P-II & P-III study
• Upon option exercise- Novartis will lead further development and commercialization activities while Molecular Partners will provide clinical supply during the development stage. MP0420 and MP0423 are potential medicines for the prevention & treatment of COVID-19- with the possibility of being manufactured at scale and the potential to bypass cold storage

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