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news.Viamet Pharmaceuticals (Viamet) has entered into a licensing option agreement with the Novartis Option Fund (Novartis). Under terms of the agreement, Viamet is expected to utilise its proprietary Metallophile Technology to discover and develop novel metalloenzyme inhibitors against a specific metalloenzyme of high interest to Novartis.
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The companies said that the agreement includes an upfront fee and potential milestones totaling over $200m as well as product royalties.
Lauren Silverman, managing director of Novartis Option Fund, said: “Viamet’s Metallophile Technology is a powerful platform that enables the rapid and cost-effective generation of best-in-class metalloenzyme inhibitors. Metalloenzymes are a large class of enzymes, many of which are closely related, and finding inhibitors that are potent yet selective for a specific metalloenzyme can be very challenging. Viamet’s Metallophile Technology offers the potential for the discovery and development of superior metalloenzyme inhibitors with improved safety and efficacy.”
Robert Schotzinger, president and CEO of Viamet, said: “Partnering with Novartis on this key metalloenzyme target provides Viamet with the opportunity to expand the Metallophile Technology beyond our current development programs. We believe that the Metallophile Technology can be applied to all metalloenzymes, which represents a large commercial opportunity that is beyond our capacity to pursue independently. Working with quality partners, such as Novartis, will allow us to fully exploit our technology and realize its full potential.”