The vision of Pamplona-based Palobiofarma is to discover the first marketed drug based on a selective adenosine receptor modulator.

In October 2015 the company came to a licensing agreement with Novartis. Under the terms of the agreement Novartis acquired exclusive global rights to develop, manufacture and commercialize Palobiofarma´s adenosine A2A receptor antagonist PBF-509, as it entered Phase I clinical trials in Non-Small Cell Lung Cancer.

Additionally, Novartis has access to several adenosine-related patents from Palobiofarma related to the role of adenosine in immunotherapy.