Schrödinger and Novartis Forge Partnership to Scale Computational Drug Discovery
Schrödinger, Inc. (Nasdaq: SDGR) has entered a collaboration and licensing agreement with Novartis to advance drug discovery efforts on multiple targets. This collaboration involves a $150 million upfront payment from Novartis to Schrödinger, with eligibility for up to $2.3 billion in research, regulatory, and commercial milestone payments, as well as tiered royalties on net sales of resulting products.
The partnership includes a three-year software licensing expansion, enabling Novartis to leverage Schrödinger's computational drug discovery platform at scale. This platform, supported by Schrödinger’s predictive modeling and informatics technology, will integrate deeply into Novartis’s global research operations to drive a computational-first approach to drug discovery.
The collaboration will focus on advancing candidates for Novartis’s therapeutic areas, with joint responsibility in discovery stages. Novartis will handle clinical development, manufacturing, and commercialization. Full integration of Schrödinger’s software across Novartis’s research units is anticipated to enhance Novartis’s research efficiency and innovation pace.
Schrödinger CEO Ramy Farid, Ph.D., and Novartis Biomedical Research President Fiona Marshall highlighted the strategic benefits of the collaboration in driving forward computational approaches in drug development. Schrödinger’s platform, built over 30 years, supports a portfolio that includes collaborative projects and clinical-stage oncology programs.
Additional terms and conditions, including regulatory clearances, apply to this agreement. Schrödinger will discuss these updates further during its Q3 financial results webcast on November 12, 2024, at 8:00 a.m. ET.
Photo: SiyueSteuber
Topic: Industry Movers
