Novartis Partners for Nanoparticle-Drug ConjugatesBy
Novartis has formed a collaboration with Cerulean Pharma, a Waltham, Massachusetts-based clinical-stage company developing nanoparticle-drug conjugates (NDCs), to develop NDC product candidates combining Cerulean’s proprietary tumor-targeting technology with Novartis’ proprietary compounds directed at up to five targets. Cerulean will create NDC candidates, and Novartis is responsible for further development and commercialization of NDC products resulting from the collaboration.
Under the agreement, Cerulean will receive an upfront payment of $5 million plus funding for five full-time equivalents. Cerulean is also eligible to receive preclinical, clinical, regulatory, and sales milestones for each target. In addition, following regulatory approval of NDC products, Cerulean can earn single-digit to low double-digit tiered royalties on net sales for each NDC product.
Source: Cerulean Pharma