Date: 2016-01-11
Type of information: Collaboration agreement
Compound: immunotherapeutics targeting the tumor microenvironment and the interface of innate and adaptive immunity
Company: Novartis (Switzerland) Surface Oncology (USA - MA)
Therapeutic area: Cancer - Oncology
Type agreement: collaboration
Action mechanism:
Disease:
Details: • On January 11, 2016, Surface Oncology has entered into a broad strategic collaboration with Novartis to develop immunotherapeutics targeting the tumor microenvironment and the interface of innate and adaptive immunity. Surface Oncology is targeting a broad set of immune processes by which cancer cells evade immune recognition and attack. Its programs include new approaches to improve the effectiveness of antigen presentation to the adaptive immune system, to block the activity of a variety of suppressor cells in the tumor microenvironment, and to counter the immunosuppressive environment that selectively accumulates in and around the tumor.
Financial terms: Under the terms of the agreement, Surface is eligible to receive up to $170M in upfront, equity, and near?term milestone payments. Novartis will gain exclusive access to Surface’s current pipeline of novel cancer immunotherapies, including an exclusive worldwide license to its leading program and options to license up to three additional programs from the existing portfolio, exercisable at IND. Surface is eligible to receive clinical and commercial milestones and up to double?digit royalties on product sales. Surface also has the option to retain U.S. development and commercialization rights for at least half of the collaboration’s programs.
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