Dren Bio Announces Strategic Collaboration with Novartis To Develop Novel Targeted Myeloid Engagers For Cancer; Dren Bio To Receive Total Upfront Consideration Of $150M And Is Eligible To Receive Milestone Payments And Tiered Royalties
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Dren Bio has entered into a strategic collaboration with Novartis to develop novel targeted myeloid engagers for cancer. Dren Bio will receive $150 million upfront and is eligible for milestone payments and tiered royalties.
July 24, 2024 | 12:25 pm
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Novartis has entered into a strategic collaboration with Dren Bio to develop novel targeted myeloid engagers for cancer. This partnership leverages Dren Bio's platform and Novartis' expertise, with Dren Bio receiving $150 million upfront and potential milestone payments.
The collaboration with Dren Bio enhances Novartis' oncology pipeline and leverages its research and commercial expertise. The upfront payment and potential milestone payments indicate a significant investment, likely to positively impact Novartis' stock in the short term.
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RELEVANCE 80