Novartis Inks $750M Biobucks Deal with ProFound Therapeutics for Cardiovascular Drug Development

In a significant move to bolster its cardiovascular pipeline, Swiss pharmaceutical giant Novartis has entered into a four-year collaboration with ProFound Therapeutics, a Flagship Pioneering-founded biotech company. The partnership, announced on June 26, aims to develop first-in-class medicines for a range of cardiovascular diseases, leveraging ProFound's innovative protein detection platform.

Deal Structure and Financial Terms

The agreement includes an upfront payment and near-term milestone payments totaling $25 million from Novartis to ProFound. Additionally, ProFound stands to earn up to $750 million in milestone payments per selected target, along with tiered royalties. While the exact number of targets covered under the deal remains undisclosed, the potential for multiple $750 million payouts suggests a comprehensive and ambitious collaboration.

Technological Approach and Research Focus

At the heart of this partnership is ProFound's protein detection platform, which will be utilized to identify and validate new proteins within the expanded human proteome. This approach aims to uncover novel therapeutic targets for cardiovascular diseases, an area where Novartis already has a strong presence with products like Entresto and Leqvio.

Dr. Fiona Marshall, President of Biomedical Research at Novartis, expressed enthusiasm for the collaboration, stating, "We are excited to collaborate with ProFound and combine our respective expertise and capabilities to explore under-researched biology, uncover new mechanisms and translate pioneering science into life-changing treatments."

Implications for Novartis's Cardiovascular Portfolio

This deal comes at a strategic time for Novartis, as the company faces ongoing patent challenges for its heart failure medication, Entresto. The collaboration with ProFound could potentially strengthen Novartis's position in the cardiovascular market by introducing innovative therapies based on newly discovered protein targets.

The partnership also complements Novartis's existing cardiovascular pipeline, which includes three late-stage candidates in addition to marketed products like Leqvio for lowering LDL cholesterol. By tapping into ProFound's expertise, Novartis aims to maintain its competitive edge in this crucial therapeutic area.