Schrödinger Announced Research Collaboration And License Agreement With Novartis To Advance Multiple Development Candidates Into Novartis's Portfolio For Further Development, Schrödinger To Receive $150M Upfront And Eligible To Receive Up To Approximately $2.3B In Milestone Payments Plus Royalties

• The companies also announced an expanded three-year software agreement that substantially increases Novartis's access to Schrödinger's computational predictive modeling technology and enterprise informatics platform.
• s part of the multi-year, multi-target research collaboration and license agreement, Schrödinger and Novartis will combine their existing research efforts to identify and advance therapeutics for undisclosed targets in Novartis's core therapeutic areas. The agreement is intended to advance multiple development candidates for development and commercialization by Novartis. Schrödinger and Novartis will share responsibility for the discovery of development candidates under the collaboration. Novartis will be responsible for clinical development, manufacturing and global commercialization.
• Under the terms of the agreement, Novartis will pay Schrödinger $150 million upfront, and Schrödinger will also be eligible to receive up to $892 million in research, development and regulatory milestone payments. Additionally, Schrödinger is eligible for up to $1.38 billion in commercial milestones and tiered mid single-digit to low double-digit royalties on net sales of each product commercialized by Novartis.