ProFound Therapeutics Secures Strategic Collaboration with Novartis

ProFound Therapeutics, a pioneer in exploring the expanded human proteome, has initiated a four-year collaboration with Novartis aimed at discovering novel therapeutics for cardiovascular diseases. The strategic partnership will use ProFound's advanced ProFoundry Platform, capable of mining previously unknown proteins, to identify potential drug targets. This collaboration not only highlights ProFound's leading-edge technology but also amplifies Novartis's stronghold in cardiovascular drug innovation, aspiring to develop transformative therapies for the growing burden of cardiovascular conditions. Under this agreement, ProFound is set to receive an initial $25 million in upfront and near-term milestone payments, with downstream milestones potentially accumulating to $750 million per target. Both entities aim to push the boundaries of traditional target discovery, leveraging a combination of data-driven biological insights and Novartis's extensive drug development expertise.