other material
confidence high
sentiment positive
materiality 0.75
Schrödinger enters $2.272B collaboration with Novartis; $150M upfront
Schrodinger, Inc.
- Upfront payment of $150 million to be paid after HSR waiting period expires.
- Eligible for up to $892M in discovery/development milestones and $1.38B in commercial milestones across initial project plans.
- Eligible for tiered royalties on net sales of collaboration products: mid-single-digit to low-double-digit percent, subject to reductions.
- Research term for each project plan is generally four years; Novartis responsible for clinical development and commercialization.
- Exclusivity provisions prevent Schrödinger from working on collaboration targets with third parties for specified period.