November 12, New York, Schrödinger (Nasdaq: SDGR,Schrodinger) Announced a research collaboration and licensing agreement with Novartis to advance multiple candidate development programs into Novartis' portfolio for further development.The two companies also announced a three-year extended software agreement, which significantly increases Novartis' access to Schrodinger's computational predictive modeling technology and enterprise information platform.This expanded access enables Novartis to deploy Schrodinger's full suite of drug discovery technologies at an industry-leading scale within its research base.Schrodinger will provide comprehensive support to ensure the full integration and optimization of the platform, enabling Novartis to quickly incorporate large-scale computing into its drug discovery programs.Under the terms of the agreement, Novartis will pay Schrödinger $150 million upfront, and Schrödinger is also eligible to receive up to $892 million in research, development, and regulatory milestone payments.In addition, Schrodinger is eligible to receive up to $1.38 billion in commercial milestones and mid-single-digit to low-double-digit royalties on net sales of each product commercialized by Novartis.As part of a multi-year, multi-target research collaboration and licensing agreement, Schrödinger and Novartis will combine their existing research efforts to identify and advance treatments for undisclosed targets in Novartis' core therapeutic areas.This agreement aims to advance several development candidate drugs developed and commercialized by Novartis.Schrodinger and Novartis will jointly be responsible for discovering and developing candidate drugs under the collaboration.Novartis will be responsible for clinical development, production, and global commercialization.Schrödinger, LLC. President of Research and Development Karen Akinsanya, Ph.D., stated:"We are delighted to collaborate with Novartis, leveraging their robust expertise to jointly advance several of Schrödinger's existing non-oncology discovery programs and to collaborate on other projects. This builds on over a decade of fruitful partnerships with pharmaceutical collaborators and companies we have co-founded, demonstrating the track record of our world-class therapeutic team."
Ramy Farid, Ph.D., President and CEO of Schrödinger, said:"We are committed to working at the computational frontier to advance our drug discovery portfolio, which offers significant synergies. We are delighted to see innovative pharmaceutical companies like Novartis deepen their collaboration with us by expanding the use of our technology and focusing on key drug discovery partnerships. We are excited to further integrate our platform into Novartis' research teams, realizing our shared vision for modernizing drug discovery through a computational 'predict-first' approach."President of Novartis Biomedical ResearchFiona MarshallIndicates:"We are excited to build on our long-standing collaboration with Schrödinger, leveraging their discovery platform and physics-based computational approaches to accelerate our drug discovery efforts. These agreements underscore our commitment to innovative computational technologies that enhance our research capabilities and help us bring new, impactful medicines to patients faster."
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