Generate:Biomedicines Enters Multi-target Collaboration With Novartis To Discover, Develop Protein Therapeutics Across Multiple Disease Areas; Potential Total Transaction Valued At More Than $1B
Portfolio Pulse from Benzinga Newsdesk
Generate:Biomedicines has entered a collaboration with Novartis to develop protein therapeutics, with a potential transaction value exceeding $1 billion. Generate will receive $65 million upfront, including $15 million in equity, and is eligible for milestone payments and royalties.
September 24, 2024 | 10:12 am
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Novartis has entered a significant collaboration with Generate:Biomedicines, potentially valued at over $1 billion. This deal includes an upfront payment and potential milestone payments, indicating a strategic move to expand its protein therapeutics portfolio.
The collaboration with Generate:Biomedicines positions Novartis to potentially enhance its product offerings in protein therapeutics, a growing field in biotech. The upfront payment and potential milestone payments reflect a significant investment, likely to positively impact Novartis's stock in the short term.
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