Quick ROI for Novalon
Most small companies want to be big companies when they grow up. But who's to say that investors wouldn't be just as happy with a quicker, albeit smaller, return on investment, rather than sticking it out for the long haul. Novalon Pharmaceutical Corp. (Chapel Hill, N.C.) a one-year-old platform company, may have found such a quick exit in its three-year agreement with Cubist Pharmaceuticals Inc.
Like many other research collaborations, the companies will apply Novalon's Biomolecular Recognition System (BRS) screening technology to identify inhibitors of anti-infective target proteins identified by CBST (Cambridge, Mass.). CBST will make a $1 million up-front equity investment in Novalon, as well as fund research, and potentially milestone and royalty payments. ...