Mishcon de Reya Advises Relation Therapeutics on Strategic Multi‑Programme Collaboration with Novartis

"Mishcon de Reya advised Relation Therapeutics on a multi‑programme strategic collaboration with Novartis to discover and advance targets for atopic diseases. Relation will receive $55m upfront, equity and R&D funding, and is eligible for up to $1.7bn in milestones plus royalties. Mintz, Levin led the equity investment."

Mishcon de Reya represented Relation Therapeutics in the transaction, and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. led the equity investment; the counterparty in the collaboration is Novartis. The agreement establishes a multi‑programme, strategic collaboration between Relation Therapeutics and Novartis to discover and advance novel targets for atopic diseases driven by immune dysregulation. Under the terms, Relation will receive $55 million comprising an upfront payment, an equity investment and additional R&D funding. Relation is also eligible to receive preclinical, development, regulatory and commercial milestones of up to $1.7 billion, together with tiered royalties on future product sales. The collaboration combines Relation’s AI‑powered drug discovery platform and human data generation capabilities with Novartis’s expertise in immuno‑dermatology to identify, validate and advance potential first‑in‑class targets for atopic diseases. Mishcon de Reya represented Relation Therapeutics with a team composed by: Patrick Farrant (Head of Life Sciences), Dr David Rainford and Sophie Wood. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. participated in the equity investment with a team composed by: Sarah Palmer.

Mishcon de Reya Advises Relation Therapeutics on Strategic Multi‑Programme Collaboration with Novartis

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