Pharma BD Deal Intelligence
Novartis gains an exclusive license to an undisclosed Monte Rosa discovery-stage target as well as options to license two programs from Monte Rosa's…
Novartis announced a licensing agreement with Monte Rosa Therapeutics valued upwards of $5.7 billion that aims at developing drugs for immune-mediated…
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Novartis pledged up to $5.76B to Monte Rosa Therapeutics in its second molecular glue degrader collaboration, announced September 15, 2025, to develop degraders for immune-mediated diseases using Monte Rosa's QuEEN discovery engine. The deal covers an exclusive license to one undisclosed I&I target plus options on two additional preclinical immunology programs. Monte Rosa received a $120M non-refundable upfront in September 2025 (transaction price at inception of $180M including $60M of option-maintenance payments), and is eligible for up to $5.4B in development, regulatory, and sales milestones plus tiered royalties (high single- to low double-digit). The agreement is effective; the upfront was received and is being recognized under ASC 606 per Monte Rosa's Q3 2025 results.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Novartis AG / Monte Rosa Therapeutics Inc. (this deal) | 2025 | $5.8B | 58 |
| Novartis AG / Advanced Accelerator Applications S.A. | 2017 | $3.9B | 98 |
| Novartis AG / Endocyte, Inc. | 2018 | $2.1B | 96 |
| Novartis AG / Lek Pharmaceuticals d.d. | 2002 | $876M | 88 |
| Novartis AG / GlaxoSmithKline plc | 2014 | $16.0B | 81 |
| Novartis AG / PTC Therapeutics Inc. | 2024 | $2.9B | 80 |
| Novartis AG / Chinook Therapeutics Inc. | 2023 | $3.5B | 78 |
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More: 2025 deals · Novartis AG deals · Immunology deals