Novartis Pays Schrödinger $150 Million, Bets Billions On the Back End to Form Drug Discovery Pact

Novartis to pay Schrödinger $150 million upfront

Novartis and Schrödinger have formed a multi-year drug discovery collaboration to develop new medicines across multiple therapeutic areas. As part of the deal, Novartis will pay Schrödinger an upfront payment of $150 million and will be responsible for all research and development costs. Schrödinger will be eligible for additional payments based on the achievement of certain milestones and the successful commercialization of any products resulting from the collaboration.

The collaboration will leverage Schrödinger's computational platform and Novartis's expertise in drug discovery and development.

The collaboration will leverage Schrödinger's computational platform, which uses physics-based models to predict the properties of molecules, and Novartis's expertise in drug discovery and development. The two companies will work together to identify and develop new drug candidates for a range of diseases.

Novartis has committed to invest up to $1 billion in the collaboration over the next 10 years.

Novartis has committed to invest up to $1 billion in the collaboration over the next 10 years. This investment will be used to fund research and development, as well as the construction of a new drug discovery center in Basel, Switzerland. The new center will be home to a team of scientists from both Novartis and Schrödinger who will work together to develop new medicines.

The collaboration is expected to generate multiple clinical candidates and lead to the development of new medicines for patients.

The collaboration is expected to generate multiple clinical candidates and lead to the development of new medicines for patients. The two companies have a strong track record of success in drug discovery and development, and they are confident that this collaboration will lead to the development of new and innovative medicines for patients.