Heptares Therapeutics Signs $200 Million Deal with Novartis

Heptares Therapeutics Ltd., a UK-based developer of drugs targeting G-protein-coupled receptors, has signed a strategic agreement with Novartis Option Fund, whereby it will generate novel drug leads against a nominated, unspecified GPCR target of interest to Novartis. The deal includes up to $200 million in upfront and milestone payments, plus potential royalties. Earlier this year, Heptares raised £21 million in Series A funding from Novartis, Clarus Ventures and MVM Life Science Partners.

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