PeptiDream announces license of Peptide Discovery Platform System (PDPS) technology to Novartis
Posted: 2 April 2015 | Victoria White
PeptiDream Inc. has announced that Novartis has exercised its option to obtain a nonexclusive license to the Peptide Discovery Platform System technology…
PeptiDream Inc., a public Tokyo-based biopharmaceutical company, has announced that Novartis has exercised its option under their 2012 Strategic Alliance Agreement to obtain a nonexclusive license to PeptiDream’s proprietary Peptide Discovery Platform System (PDPS) technology.
Peptide Discovery Platform System (PDPS) is a state-of-the-art highly versatile peptide generation and selection platform which enables the production of highly diverse (trillions) non-standard peptide libraries with high efficiency for the discovery and development of best-in-class and first-in-class peptide-based therapeutics.
The licence agreement will significantly contribute to PeptiDream’s revenue
Under the terms of the Technology License Agreement, PeptiDream will receive multi-stage upfront technology access payments and will be eligible to receive development milestones and royalties on future sales of products that arise from use of the PDPS technology.
Kiichi Kubota CEO of PeptiDream Inc., said “We are delighted with Novartis’s decision to internalize the PDPS technology under our 2012 Strategic Alliance Agreement and this exercise further validates our PDPS technology as one of the best hit-finding/discovery platforms. The license agreement will significantly contribute to PeptiDream’s revenue both in the short term and has the potential to generate significant revenues long into the future.”
For more information about PeptiDream Inc., please visit www.peptidream.com.