Pharmaceutical giant Novartis strikes a substantial deal with Matchpoint, worth over $1 billion, for drug discovery initiatives.
Matchpoint Therapeutics and Novartis Partner to Develop Novel Inflammatory Disease Treatments
In a significant move, Matchpoint Therapeutics and Novartis have joined forces to develop oral covalent inhibitors for multiple inflammatory diseases. The partnership, announced on Thursday, aims to discover new drugs for historically difficult-to-treat inflammatory conditions.
The collaboration targets a transcription factor associated with several inflammatory conditions, although the specific diseases have not been named in the announcements. Matchpoint Therapeutics' Advanced Covalent Exploration (ACE) platform will be used to identify a novel binding site on a protein linked to inflammation.
Key Points of the Partnership
- Deal Value: The partnership is valued at up to $1 billion, including an upfront payment of up to $60 million and potential milestone payments.
- Research Focus: The collaboration aims to develop oral covalent inhibitors targeting a transcription factor linked to various inflammatory diseases.
- Research Responsibilities: Matchpoint will lead all research activities up to the selection of a development candidate, using its proprietary platform to target a previously difficult-to-drug protein.
- Commercialization: Novartis will have the option to exclusively license the program, gaining global rights to develop and market any resulting therapies.
Financing and Partnership Background
Matchpoint Therapeutics launched in late 2022 with $100 million in startup financing. The Series A financing round was led by Sanofi Ventures, with participation from Vertex Ventures HC and Atlas Venture.
Novartis has been actively expanding its pipeline, having entered into a partnership with Matchpoint Therapeutics and making an $800 million upfront purchase of Regulus Therapeutics in April. The deal with ProFound Therapeutics involved a $25 million upfront payment and $750 million in milestones.
The covalent chemistry used in Matchpoint Therapeutics' drugs imparts improved potency, greater selectivity, and lower systemic exposure than otherwise possible. This chemistry is expected to play a crucial role in the development of the oral covalent inhibitors under this partnership.
Novartis' CEO, Vas Narasimhan, stated that its strategy would be to look for primarily bolt-on acquisitions that will bolster its growth in the 2030 and beyond period. The partnership between Novartis and Matchpoint Therapeutics aligns with this strategy, as it aims to strengthen Novartis' pipeline and discovery processes.
[1] Fierce Biotech. (2023, March 30). Novartis partners with Matchpoint Therapeutics to develop oral covalent inhibitors for inflammatory diseases. Retrieved from https://www.fiercebiotech.com/biotech/novartis-partners-with-matchpoint-therapeutics-to-develop-oral-covalent-inhibitors-for-inflammatory-diseases
[2] BioPharma Dive. (2023, March 30). Novartis partners with Matchpoint Therapeutics to develop oral covalent inhibitors for inflammatory diseases. Retrieved from https://www.biopharmadive.com/news/novartis-matchpoint-therapeutics-partnership-inflammatory-diseases/635235/
[3] Endpoints News. (2023, March 30). Novartis partners with Matchpoint Therapeutics to develop oral covalent inhibitors for inflammatory diseases. Retrieved from https://endpts.com/novartis-partners-with-matchpoint-therapeutics-to-develop-oral-covalent-inhibitors-for-inflammatory-diseases
- The collaboration between Matchpoint Therapeutics and Novartis is directed at discovering new drugs for inflammatory conditions, specifically focusing on oral covalent inhibitors targeting a transcription factor linked to various health-and-wellness issues, such as medical-conditions related to inflammation.
- As part of its strategy for 2030 and beyond, Novartis aims to strengthen its pipeline and discovery processes by partnering with innovative biotech companies like Matchpoint Therapeutics, participating in projects like the development of therapies and treatments for inflammatory diseases through the use of science and advanced technologies.
