Ropes & Gray Advises Matchpoint Therapeutics in Novartis Option and License Agreement Worth Up to $1 Billion

Ropes & Gray represented Matchpoint Therapeutics in an exclusive option and license agreement with Novartis for the development and commercialization of oral covalent inhibitors directed at a transcription factor linked to multiple inflammatory diseases. The transaction was announced on July 24.

Under the agreement, Matchpoint will use its Advanced Covalent Exploration platform to advance its preclinical program through development candidate selection. Matchpoint will lead all research to that point and will receive up to $60 million in upfront payment and research funding from Novartis. If Novartis exercises its option to exclusively license the program, Novartis will have global rights to develop and commercialize all products resulting from the collaboration. Matchpoint is eligible to receive up to $1 billion in total payments, including development and commercial milestones, plus tiered royalties on future product sales.

The Ropes & Gray team was led by life sciences licensing partner David McIntosh and life sciences licensing associate Ian Nilsen and included tax partner David Saltzman, litigation & enforcement partner Jackie Grise and tax associate Elizabeth Sun.