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GEN News Highlights : Mar 2, 2009

Novartis to Kick Off R&D Alliance with Epistem with $4M

Deal also includes license fee and up to $45 million in milestones per target.

Epistem entered an R&D collaboration with Novartis to identify new drug targets and therapeutics across a variety of disease areas. Novartis will pay $4 million up front and provide research funding for two years.

Epistem will also receive a license fee and up to $45 million in milestones for each target Novartis gains rights to. Additionally, Novartis will pay tiered royalties.

The collaboration combines Epistem's stem cell expertise and drug discovery program with Novartis' insights into disease pathways and bioinformatics. Novartis has an option to exclusively license targets for development of biotherapeutic products.