Novartis hands PeptiDream $180M upfront to extend radiopharma discovery pact

Novartis is looking to build on its radiopharma research machinery.

The maker of Lutathera and Pluvicto has expanded its long-standing peptide discovery deal with PeptiDream to bolster their work on peptides for conjugation with radionuclide compounds.

The Japanese biotech, which has a long list of drug development partners, will get $180 million upfront and is eligible for up to $2.71 billion in milestones, as well as tiered royalties on net sales of any potential products, according to a Tuesday release.

Peptidream will use its so-called Peptide Discovery Platform System to identify new macrocyclic peptide candidates against targets selected by Novartis, which can then be conjugated with radionuclides or other compounds for both therapeutic and diagnostic use. Novartis’ Lutathera and Pluvicto also comprise peptides conjugated with radionuclides.

The biotech’s shares rose 24% to 2,022 Japanese yen ($12.89) Tuesday.

Novartis and PeptiDream’s relationship dates back…
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