Forma Therapeutics Announces $200 mn Collaboration Deal with Novartis

January 13, 2009 by · 1 Comment
Filed under: Americas, Biotech, Capital Markets, Europe, Finance, JVs, M&A, Pharma 

CAMBRIDGE, Mass. Jan 12, 2009 — FORMA Therapeutics announced today that it has entered into a license and option agreement through the Novartis Option Fund. Under the terms of the agreement, FORMA will leverage its transformative biology and chemistry platform to develop inhibitors for an undisclosed protein-protein interaction target in the field of oncology. The agreement includes an upfront fee and potential milestones totaling over $200 million as well as royalties.

“Protein-protein interactions represent important target opportunities in the field of oncology drug discovery, but have been highly elusive to date,” stated Reinhard Ambros, Head of the Novartis Venture Funds. “Novartis is very excited to be collaborating with FORMA to access their biology and chemistry expertise and powerful discovery tools to unlock this challenging target class.” Read more