Polyphor Announces First PEMfinder(R) collaboration with Big Pharma, Novartis Pharmaceuticals Corporation (NVS)
5/6/2010 10:52:14 AM
ALLSCHWIL, Switzerland--(BUSINESS WIRE)--Polyphor Ltd today announced that it has entered into a drug discovery collaboration with Novartis. Under the terms of the collaboration, Polyphor will apply its proprietary PEM (Protein Epitope Mimetics) drug discovery technology to identify novel PEMdrug candidates against drug targets of interest to Novartis. Novartis will provide Polyphor with an upfront payment, research funding and milestone payments as candidate molecules progress through the drug discovery process, preclinical and clinical development and onto the market. In addition, Polyphor is eligible to receive royalties on the commercial sales of approved products.