Schrödinger Announces Multi-Target Collaboration and Expanded Software Licensing Agreement with Novartis
Schrödinger to receive
Expanded multi-year software agreement enables technology deployment at significant scale across Novartis’s global research organization
Schrödinger to host third quarter 2024 financial results webcast today at
“We are delighted to work with Novartis and leverage their strong expertise to jointly advance several of Schrödinger’s existing non-oncology discovery programs as well as collaborate on additional programs,” said
“Our commitment to working at the frontier of computation and advancing our drug discovery portfolio provides important synergies, and we are pleased to see innovative pharmaceutical companies like Novartis increase their depth of engagement with us through both expanded use of our technology and focused drug discovery collaborations,” stated
“We are excited to build on our long-standing relationship with Schrödinger, leveraging their discovery platform and physics-based computational methods to accelerate our drug discovery efforts,” said
Research Collaboration Terms
As 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
The agreement is subject to customary closing conditions including regulatory clearance. For more information regarding the financial and other terms of the collaboration, please refer to the Current Report on Form 8-K which will be filed by Schrödinger with the
Schrödinger Webcast and Conference Call Information
Schrödinger will discuss the collaboration during its third quarter financial results conference call and webcast on
About Schrödinger
Schrödinger is transforming molecular discovery with its computational platform, which enables the discovery of novel, highly optimized molecules for drug development and materials design. Schrödinger’s software platform is built on more than 30 years of R&D investment and is licensed by biotechnology, pharmaceutical and industrial companies, and academic institutions around the world. Schrödinger also leverages the platform to advance a portfolio of collaborative and proprietary programs and is advancing three clinical-stage oncology programs. Founded in 1990, Schrödinger has approximately 900 employees operating from 15 locations globally. To learn more, visit www.schrodinger.com, follow us on LinkedIn and Instagram, or visit our blog, Extrapolations.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 including, but not limited to those regarding our expectations about the speed and capacity of our computational platform, our ability to discover, identify and advance development candidates under the collaboration, the potential of our collaboration with Novartis to develop new therapies, our ability to realize potential milestones, royalties or other payments under the collaboration and the risk that we may not realize the expected benefits of the collaboration. Statements including words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "project," "should," "target," "will," "would" and statements in the future tense are forward-looking statements. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies, and prospects, which are based on the information currently available to us and on assumptions we have made. Actual results may differ materially from those described in these forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control, including our reliance upon third-party providers of cloud-based infrastructure to host our software solutions, our reliance on third party contract research organizations to assist in the discovery of development candidates, our reliance on Novartis to perform its obligations to develop and commercialize any development candidates discovered by us under the collaboration, the uncertainties inherent in drug development and commercialization, uncertainties associated with the regulatory review of clinical trials and applications for marketing approvals, as well as the other risks and uncertainties identified under the caption "Risk Factors" and elsewhere in our
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jaren.madden@schrodinger.com
617-286-6264
matthew.luchini@schrodinger.com
917-719-0636
allie.nicodemo@schrodinger.com
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Source: Schrödinger