Epistem to collaborate with Novartis
Epistem, a UK biotechnology company with expertise in epithelial stem cells in oncology, gastrointestinal and dermatological diseases, is to collaborate with Novartis to identify new drug targets and therapeutics across a variety of diseases.
Epistem, a UK biotechnology company with expertise in epithelial stem cells in oncology, gastrointestinal and dermatological diseases, is to collaborate with Novartis to identify new drug targets and therapeutics across a variety of diseases.
The collaboration combines Epistem's stem cell expertise and drug discovery programme with Novartis" work on disease pathways and bioinformatics.
Novartis will pay Epistem US$4m (Euro 3.2m) and provide research funding for two years. The company also has an option to license targets for development of biotherapeutic products in exchange for payments. For each product developed from targets licensed under the agreement, Epistem is eligible to receive up to US$45m (â"šÂ¬36m) in milestone payments and tiered royalties on worldwide sales if the products are commercialised.
Matthew Walls, chief executive of Manchester-based Epistem, said: "The collaboration will enable us to accelerate the development of our existing targets with a world class pharmaceutical collaborator and to jointly explore disease opportunities in regenerative medicine."
Epistem
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