Novartis Strikes Deal With UK Biotech for Up To $1.7 Billion (1)

Novartis AG will pay UK biotech Relation Therapeutics Ltd. as much as $1.7 billion to help find drug targets to treat allergic diseases.

The Swiss drugmaker will pay $55 million upfront to combine its expertise in immuno-dermatology with the British firm’s drug discovery AI platform, which uses patient data including from human tissue to unpack the genetic basis for how diseases present, Relation’s Chief Executive Officer David Roblin said.

Relation, whose investors include DCVC and Nvidia Corp.’s venture capital arm NVentures, is also eligible for milestone payments of as much as $1.7 billion, as well as tiered royalties ...