Novartis (NVS -0.1%) inks an agreement with Finnish biotech Forendo Pharma aimed at discovering new drugs for chronic liver diseases.
Under the terms of the deal, Forendo will receive
an upfront payment, research funding, milestones and tiered royalties on
net sales in addition to an equity stake from the Swiss drugmaker.
Novartis will take over all development,
manufacturing and commercialization activities after the end of the
research collaboration.
The Helsinki-based drug developer’s core expertise
is in an enzyme family called HSD17B (17-beta-hydroxysteroid
dehydrogenase) that plays a key role in regulating hormone action. Its
lead program is FOR-6219, an HSD17B inhibitor, in Phase 1b for endometriosis
https://seekingalpha.com/news/3525601-novartis-teams-up-forendo-pharma-in-liver-diseases
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