Nerviano Medical Sciences (NMS), the largest pharmaceutical R&D facility in Italy and one of the leading oncology-focused, integrated discovery and development companies in Europe, today announced a license agreement with Novartis.
Under the terms of the agreement, Novartis will receive exclusive rights to an undisclosed family of oncology compounds discovered and owned by Nerviano. Novartis will have exclusive responsibility to further research, develop and commercialize these compounds. Nerviano will receive a one time license fee and may receive success milestones and royalty payments for licensed products related to the agreement. Further details and financial terms were not disclosed.
"We are very pleased about this new licensing deal with Novartis, one of the world's leading healthcare companies, that marks an additional commercial achievement in our partnering strategy", said Alberto Sciumè, President of Nerviano Medical Sciences. "I believe that Nerviano's expertise in drug discovery may contribute to innovative and valuable products for the oncology market."
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