Unnatural Products, Novartis sign licensing agreement for cardiovascular program

Feb 18 (Reuters) - Unnatural Products said on Wednesday it has ‌signed a licensing agreement ‌with Novartis to develop macrocyclic peptide-based therapies ​for a cardiovascular program.

The California-based biotech company will receive up to $100 million in upfront payment ‌and as ⁠much as $1.7 billion in development, regulatory, and commercial milestones. ⁠It will also be eligible for tiered royalties mid-single ​up to ​low double-digits ​on annual net ‌sales.

The Swiss drugmaker will take the lead to oversee clinical development, manufacturing and global commercialization of any resulting drugs.

The company did ‌not disclose the ​exact nature of ​the program.

Macrocyclic ​peptides are a ‌class of therapeutic molecules ​shaped into ​a ring-like structure, which gives them advantages over traditional small-molecule ​drugs ‌and larger biologics.

(Reporting by Siddhi ​Mahatole in Bengaluru; Editing ​by Mrigank Dhaniwala)