Raleigh, NC – August 28, 2024 — Lindy Biosciences, a pioneering biotechnology company specializing in innovative drug formulation and delivery technologies, today announced a multi- target exclusive global licensing agreement and strategic collaboration with Novartis Pharma AG, a subsidiary of Novartis AG (NYSE: NVS), an innovative medicines company.

The collaboration will focus on transitioning select innovative medicines from the Novartis portfolio to convenient, self-administered subcutaneous injections using Lindy Biosciences’ proprietary microglassification     suspension      technology.      By      delivering      high      concentrations of biologics, this technology significantly increases the maximum dose that can be administered in a single subcutaneous injection. This has the potential to reduce healthcare costs while also improving patient comfort, convenience, and treatment compliance.

Currently, over half of all antibody therapeutics are administered intravenously in a clinical setting, primarily due to the high doses required that cannot be formulated in volumes suitable for subcutaneous injection. Lindy Biosciences’ proprietary microglassification platform technology is poised to transform this paradigm by enabling self-administration at home via pre- filled syringes or autoinjectors.

Strategic Impact and Future Outlook

Dr. Deborah Bitterfield, founder and CEO of Lindy Biosciences, expressed enthusiasm about the collaboration: "We're excited to deepen our collaboration with Novartis. This collaboration is a testament to our shared dedication to enhancing patient care and marks a significant milestone as we take Lindy’s formulation technology into the clinic for the first time. Together, we aim to transform drug delivery and improve treatment access for patients worldwide.

The agreement's financial terms include an upfront payment of US$20 million to Lindy Biosciences. Lindy Biosciences is also eligible to receive up to US$934 million in additional payments across multiple targets upon achieving certain regulatory, development and commercial milestones as well as tiered single-digit royalties on net sales.

This collaboration marks a significant step forward in addressing the growing need for patient- friendly treatment options that can be self-administered at home. By combining innovative technology from Lindy Biosciences and the global reach and expertise of Novartis, the collaboration promises to usher in a new era of drug delivery, reshaping patient care on a global scale.

About Lindy Biosciences

Lindy Biosciences is dedicated to transforming the delivery of biologic drugs and improving patients' lives through innovative biotherapeutic formulations. Our cutting-edge solutions are designed to enhance drug formulation and delivery, specializing in the subcutaneous administration of concentrated (>400 mg/mL) biologic suspensions.

Founded in 2016 and headquartered in Morrisville, NC, Lindy Biosciences leverages core microglassification technology originated at Duke University and further developed by the company. We are committed to partnering with leading pharmaceutical companies to advance treatment accessibility for patients worldwide.

For more information, visit us at www.lindybio.com or follow us on LinkedIn.

For Media Inquiries Lindy Biosciences, Inc.

E-mail: media@lindybio.com

Source: Lindy Biosciences