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Launch of a rocket after the opening of the exchange: the share of the biotech company Schlierem Molecular Partner rises and rises. Around noon it is listed up by 30.2%: no other company listed on the Swiss stock exchange is so green. Most of the shares are scrapped due to crown concerns.
What happened? Novartis is now more actively involved in the fight against Corona through a collaboration with Molecular Partners. The two companies from Basel and Schlieren ZH work together in the form of an option and a license agreement. They announced it in the morning.
The purpose of the agreement is to develop, manufacture and commercialize two therapeutic candidates. They are called MP0420 and MP0423 and are to be tested against the coronavirus.
Companies share the research program
Molecular Partners will conduct Phase 1 clinical trials. These are expected to begin in November 2020. Novartis comes next: The Basel-based company would then be responsible for Phase 2 and 3 clinical trials, as well as all other development and commercialization activities.
The collaboration aims to leverage Molecular Partners ‘proprietary DARPin technologies and Novartis’ global drug development, approval, manufacturing and marketing capabilities to rapidly advance the program, the press release states.
Basel Blessing for Molecular Partners
As part of the agreement, Molecular Partners will receive an advance of 60 million francs, including capital. Should Novartis decide to exercise the option for both therapeutic candidates, an additional payment of 150 million Swiss francs will then be due, in addition to substantial royalties on sales.
Molecular Partners has been making headlines more often recently. The Federal Office of Public Health (BAG), for example, signed a reservation contract for a Covid-19 drug with the Schlierem-based company in mid-August. (SDA / uro)
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