Molecular Partners AG (NASDAQ:MOLN) entered into a license agreement with Novartis AG (NYSE:NVS) to develop, manufacture, and commercialize DARPin-conjugated radioligand therapies (DARPin-RLTs).
- According to the license agreement, Novartis will pay $20 million upfront to Molecular Partners. The total deal amount also includes milestone payments of up to $560 million and a low double-digit percentage of royalties.
- Novartis will be responsible for all clinical development and commercialization activities.
- The collaboration will allow Molecular Partners to team up with Novartis to discover DARPin-RLTs targeting specific tumor-associated antigens.
- "DARPins have great potential to enable robust, tumor-specific delivery of radioligands owing to their small size, allowing for greater tumor penetration and high specificity and affinity," Molecular Partners said in a statement.
- Price Action: MOLN shares are up 8.7% at $15.86, NVS stock is down 0.24% at $80.66 during the market session on the last check Tuesday.
