Date: 2014-01-10
Type of information: Licensing agreement
Compound: Chemetics® technology
Company: Nuevolution (Denmark) Novartis (Switzerland)
Therapeutic area: Technology - Services
Type agreement: licensing
Action mechanism: The Chemetics® platform uses proprietary innovative DNA labeling to allow fragment-based drug screening at an unprecedented scale forming drug-like small molecules for lead discovery. The technology allows efficient screening of billions of molecules against biological targets.
Disease:
Details: * On January 10, 2014, Nuevolution has announced that it has entered into a non-exclusive technology licensing agreement with Novartis for use of Nuevolution’s Chemetics® technology. Nuevolution will transfer know-how to Novartis to enable Novartis to practice the technology for its internal use, and the companies will work together to co-produce novel screening libraries. This is the second agreement between Nuevolution and Novartis. In 2009, the companies entered into a drug discovery collaboration in which Nuevolution applied its proprietary Chemetics® drug discovery technology against a limited number of drug targets of interest to Novartis.
Financial terms: Under the terms of the agreement, Novartis will provide Nuevolution with an upfront payment, research funding, and milestone payments as technology transfer progresses. Further financial details are not disclosed.
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