Nerviano signs licensing agreement with Novartis

16-Mar-2011

Novartis gains exclusive rights to family of oncology compounds

Nerviano Medical Sciences (NMS), the largest pharmaceutical r&d facility in Italy and a leading European integrated pharmaceutical discovery and development company focused on oncology, has signed a licensing agreement with Novartis.

Under the terms of the agreement, the Swiss drugmaker will receive exclusive rights to an undisclosed family of oncology compounds owned by Nerviano. Novartis will have exclusive responsibility to further research, develop and commercialise these compounds.

Nerviano will receive a one-time fee from Novartis and be eligible to receive milestone and royalty payments.

Further details and financial terms were not disclosed.

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