Novartis has inked an exclusive option and license agreement with Matchpoint Therapeutics to develop oral covalent inhibitors directed at a transcription factor linked to inflammatory diseases.
Per the deal, Matchpoint will receive $60 million upfront for research funding and up to $1 billion in additional payments. Novartis will receive the rights to develop and commercialize any resulting products.
Matchpoint’s approach leverages the properties of covalent chemistry and a proprietary platform to target a novel binding site on a historically hard-to-drug protein. The result is to precisely inhibit that protein’s function and the resulting production of pro-inflammatory cytokines and chemokines. Per the agreement, Matchpoint will be leading the research activities in the development of the oral inhibitors, which will involve using its proprietary platform for development candidate selection.
The Massachusetts-based company launched in 2022 with $100 million in financing, including a $70 million Series A financing round led by Sanofi Ventures and joined by Vertex Ventures.