“We are pleased to announce this new agreement with Novartis,” said Lei Chen, Vhairman and co.founder of PepLib. “We have advanced this peptide asset internally and believe that Novartis, with its deep expertise and proven rack record in RTLs, is well-positioned to take the program forward and help translate our early work into potential medicine for patients.”

Under the terms of the agreement, PepLib will receive an upfront payment of USD 50 million with the potential to receive additional development, regulatory and sales milestone payments, and is also eligible for tiered royalies on future global net sales.