BASEL (dpa-AFX) - Novartis (NVS) announced it has entered into a major multiyear alliance with Aduro Biotech that is focused on the discovery and development of next generation cancer immunotherapies targeting the STING (Stimulator of Interferon Genes) pathway. Novartis will make an upfront payment of $200 million to Aduro and will make an initial equity investment in the company for $25 million, with a commitment for another $25 million equity investment.
Aduro will lead commercialization activities and book sales in the US, with Novartis leading commercialization and recognizing sales in the rest of the world. The companies will share in profits in the US, Japan and major European countries. Novartis will pay Aduro a royalty for sales in the rest of the world.
The company has also launched a new immuno-oncology research group led by renowned cancer vaccine expert Glenn Dranoff, MD.
Copyright RTT News/dpa-AFX