PeptiDream extends Novartis deal, pharma takes equity stake

PeptiDream Inc. (Tokyo, Japan) said it signed a "multi-year multi-target" extension of an August 2010 deal with Novartis AG (NYSE:NVS; SIX:NOVN) under which PeptiDream is discovering macrocyclic peptide candidates against targets from the pharma using PeptiDream's Peptide Discovery Platform System (PDPS). PeptiDream said Novartis also took a "significant" undisclosed equity stake in the biotech. PeptiDream will receive research funding for two years and will be eligible for milestones and royalties. The biotech said the partners are not disclosing details. ...