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Novartis AGIn 2003, TopoTarget’s German subsidiary entered into an agreement with Novartis for the development of a recombinant protein which targets a common cancer antigen, ErbB2/HER2, involved in the development of malignancies such as breast cancer and head and neck tumours. The Company has exercised its option to exclusively in-license Zemab®. Under the agreement, Novartis grants TopoTarget an exclusive licence for patent rights, interest in joint patent rights, and know-how relating to Zemab®. The agreement required payments for the option, as well as an additional payment upon its exercise plus milestone payments and royalties if a product is commercialised. Novartis retains both a buy-back right up to the end of phase II and a first right of negotiation at any time.
www.novartis.com
 
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