Idera to receive Novartis milestone
US firm Idera Pharmaceuticals will receive a milestone payment from Swiss drug major Novartis under the two companies' research collaboration and license agreements.
The undisclosed payment was triggered by the initiation of a Phase I clinical study by Novartis of QAX935. The agent is a novel agonist of Toll-Like Receptor 9 exclusively licensed from Idera.
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