Goodwin’s Life Sciences team advised ProFound Therapeutics on a four-year collaboration with Novartis to discover and develop novel therapeutics for cardiovascular disease leveraging its ProFoundry™ Platform. This collaboration aims to bring innovative solutions to a growing population of patients by joining ProFound’s unique capabilities in the identification of novel proteins from the expanded proteome as drugs and drug targets with Novartis’ exceptional cardiovascular drug development expertise enabled by their longstanding commitment to helping people with cardiovascular diseases.
Under the terms of the four-year collaboration agreement, ProFound will receive $25 million in upfront and near-term milestone payments with the potential transaction value from downstream milestones of $750 million per selected target, with additional potential for tiered royalties.
ProFound Therapeutics is discovering proteins hidden within the expanded human proteome to uncover novel protein drugs and drug targets, producing first-in-class medicines for a multitude of diseases. The company’s ProFoundry™ Platform uses state-of-the-art protein detection technologies to systematically identify and validate novel proteins and dissect their therapeutic potential. The result is an ever-expanding database of tens of thousands of novel proteins, including their connectivity, functionality, and roles in health and disease. ProFound Therapeutics was founded in 2020 by Flagship Pioneering.
The Goodwin team was led by Felipe M. Heiderich, Xiaowei Wu, and Kinglsey Taft, and included Dan Karelitz, Elaine Blais, Alexandra Lu, Kristopher Ring, Susan Lee, and Zhe Yang.
For more information, please read the press release.