Matchpoint, Gate partner with pharmas: Deals Report

Covalent chemistry company Matchpoint Therapeutics Inc. will collaborate with Novartis AG (SIX:NOVN; NYSE:NVS) to develop oral therapies targeting an undisclosed transcription factor to treat inflammatory diseases. The biotech is to receive $60 million up front; the deal could escalate to $1 billion in value, including milestones, plus royalties.

Seeded by Atlas Venture and Access Biotechnology, Matchpoint has disclosed $100 million in funding to date, although it hasn’t announced a fresh round of capital since October 2022. The four-year-old start-up has yet to name a development candidate or describe its pipeline in detail...