Viamet Pharmaceuticals, Novartis Option Fund partner to develop novel inhibitors against key metalloenzyme target

Viamet Pharmaceuticals, Inc. announced today that it has entered into a licensing option agreement with the Novartis Option Fund. Under terms of the agreement, Viamet will utilize its proprietary Metallophile™ Technology to discover and develop novel metalloenzyme inhibitors against a specific metalloenzyme of high interest to Novartis. The agreement includes an upfront fee and potential milestones totaling over $200 million as well as product royalties.

“Partnering with Novartis on this key metalloenzyme target provides Viamet with the opportunity to expand the Metallophile™ Technology beyond our current development programs”

“Viamet’s Metallophile™ Technology is a powerful platform that enables the rapid and cost-effective generation of best-in-class metalloenzyme inhibitors,” stated Lauren Silverman, Ph.D., Managing Director, Novartis Option Fund. “Metalloenzymes are a large class of enzymes, many of which are closely related, and finding inhibitors that are potent yet selective for a specific metalloenzyme can be very challenging. Viamet’s Metallophile™ Technology offers the potential for the discovery and development of superior metalloenzyme inhibitors with improved safety and efficacy.”

“Partnering with Novartis on this key metalloenzyme target provides Viamet with the opportunity to expand the Metallophile™ Technology beyond our current development programs,” commented Robert Schotzinger, M.D., Ph.D., President and Chief Executive Officer of Viamet. “We believe that the Metallophile™ Technology can be applied to all metalloenzymes, which represents a large commercial opportunity that is beyond our capacity to pursue independently. Working with quality partners, such as Novartis, will allow us to fully exploit our technology and realize its full potential.”