ProFound Therapeutics Partners with Novartis on $750 Million Cardiovascular Drug Discovery Deal
Deal News | Jun 27, 2025 | Goodwins
ProFound Therapeutics has entered into a strategic four-year collaboration with Novartis to discover and develop novel drugs for cardiovascular disease. Guided by Goodwin's Life Sciences team, this partnership is set to leverage ProFound's ProFoundry Platform for identifying novel proteins from the expanded human proteome to be used as drug targets. With an upfront and near-term milestone payment of $25 million, the agreement holds the potential to reach a $750 million transaction value per selected target through downstream milestones, alongside future tiered royalties. This collaboration aims to merge ProFound's unique protein identification capabilities with Novartis' expert cardiovascular drug development framework to address cardiovascular disease therapeutic challenges. ProFound Therapeutics, established by Flagship Pioneering in 2020, continues to innovate in first-in-class medicines for multiple diseases. The advisory team from Goodwin was led by Felipe M. Heiderich among others.
Sectors
- Biotechnology
- Pharmaceuticals
- Legal Advisory
Geography
- USA – ProFound Therapeutics is based in the USA, as is Flagship Pioneering, its founding entity.
- Switzerland – Novartis is headquartered in Switzerland, making it a primary geography related to the collaboration.
Industry
- Biotechnology – ProFound Therapeutics is engaged in the development of novel protein drugs and drug targets, characteristic of the biotechnology sector.
- Pharmaceuticals – Novartis' involvement in drug development places this collaboration within the pharmaceutical industry.
- Legal Advisory – Goodwin provided legal advice for the transaction, fitting within the legal advisory sector.
Financials
- 750 million – Potential transaction value from downstream milestones per selected target in the collaboration deal.
- 25 million – Upfront and near-term milestone payments in the collaboration agreement.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ProFound Therapeutics | Target company | Company | Biotechnology company focused on discovering novel protein drugs. |
| Novartis | Bidding company/buyer | Company | Global healthcare company specializing in pharmaceuticals and drug development. |
| Goodwin | Legal advisor | Company | A legal advisory firm providing legal counsel for the collaboration. |
| Flagship Pioneering | Founding entity | Company | Founded ProFound Therapeutics and is an investment firm that creates and funds startups. |