Protein degraders space hots up, as Dunad snares up to $1.3 billion deal with Novartis

Cambridge, UK-based biopharma start-up Dunad Therapeutics today signed its first deal in the growing area of interest in protein degraders, entering a license agreement with Swiss pharma giant Novartis (NOVN: VX) to generate orally bioavailable covalent and protein degrading small molecule drugs.

Under the terms of the agreement, Dunad, which only emerged from stealth in March this year, will apply its tunable and highly selective platform to generate novel covalent and targeted protein degrading small molecule drugs focusing on up to four drug targets agreed with Novartis. Dunad will also be responsible for program execution up to lead optimization. Novartis will contribute target and ligand knowledge as well as access to unique assays and models and will fully fund the research collaboration.

Novartis has an exclusive option to develop and commercialize products resulting from the research programs directed against up to four drug targets. Upon exercise of this option, Novartis will assume responsibility for future development, manufacturing and global commercialization of the small molecule therapeutic products generated against the agreed targets