09:41 AM EST, 11/12/2024 (MT Newswires) -- Schrodinger (SDGR) said Tuesday it has signed a research partnership and license deal with Novartis ( NVS ) , with Novartis ( NVS ) paying $150 million upfront and Schrodinger having the potential to earn up to $2.3 billion in milestone payments plus royalties.

The company said it will work with Novartis ( NVS ) to identify and advance multiple drug candidates for development within Novartis's ( NVS ) therapeutic portfolio. Under terms of the deal, Schrodinger will contribute to candidate discovery, while Novartis ( NVS ) will manage clinical trials, manufacturing, and commercialization.

Schrodinger said it also signed an expanded software license agreement which will allow Novartis ( NVS ) broad access to Schrodinger's computational drug discovery platform.

Shares of Schrodinger were up nearly 14% in recent Tuesday trading, while Novartis ( NVS ) was down 0.5%

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