You can now follow the latest news for free through our Twitter account
Click here to subscribe
Zurich (Switzerland): The Swiss pharmaceutical giant, Novartis, announced an agreement on Wednesday with the Swiss biotechnology company, Molecular Partners, to develop two potential anti-COVID-19 treatments.
Novartis said in a statement that the agreement includes research and marketing of two possible anti-virus treatments at the beginning of the development stage, named “MB 0420” and “MB 0423”.
The company explained that the two treatments under study can be used at the same time as a prevention and treatment for Covid-19. The two treatments are easy to prescribe and can be manufactured in large numbers as they do not require refrigerated storage.
The agreement stipulates that Molecular Partners will begin conducting clinical trials of the first phase of MB0420 in November and will take care of the remaining clinical work for the second and third stages, which correspond to the intermediate and advanced stages of development.
Novartis then has the option to take charge of the remaining developments and market them, as the Swiss giant indicates that its experience in managing regulatory licensing applications and distributing drugs as well as its resources for manufacturing can be leveraged.
Molecular Partners will receive an initial amount of 60 million Swiss francs (56 million euros), mainly in the form of equity investment, as Novartis intends to invest 6% in its capital. Subsequently, stage payments of 150 million Swiss francs, as well as “substantial” amounts, will be added to sales, Novartis said.
These were the details of the news Novartis and Molecular Partners are working on two anti-corona treatments for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.