Shots:
- Matchpoint & Novartis have entered into an exclusive option & license agreement to develop & commercialize oral covalent inhibitors targeting a transcription factor in inflammatory diseases using Matchpoint’s ACE platform
- As per the deal, Matchpoint will lead all research activities through development candidate selection with funding from Novartis. Matchpoint will receive $60M in upfront & funding as well as ~$1B in total potential payments incl. option exercise fee, development & commercial milestones, plus tiered royalties on sales
- ACE platform integrates advanced covalent drug discovery tools to target validated, hard-to-drug proteins by binding novel sites, thereby, inhibiting their function & reducing pro-inflammatory cytokine & chemokine production
Ref: Matchpoint Therapeutics | Image: Matchpoint & Novartis | Press Release
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