CHARLOTTESVILLE, Virginia, April 27, 2011 /PRNewswire/ -- Biovista announced today that it has entered into a research collaboration agreement with Novartis. The collaboration is focused on identifying new indications for a number of undisclosed Novartis compounds using Biovista's Clinical Outcome Search Space (COSS) technology.
The terms of the agreement include an upfront payment and success-based milestones.
"We look forward to working with Novartis to enhance their drug discovery efforts" said Aris Persidis, President of Biovista. "Our unique COSS(tm) technology offers significant advantages in terms of speed, comprehensiveness and depth of clinical outcome exploration, which we expect will help patients in need of novel solutions," he added.
Biovista is a privately held biotechnology company that finds novel uses for existing drugs, and profiles their side effects using their mechanism of action. Biovista is developing its own drug pipeline in multiple indications and is collaborating with the FDA on the prediction of adverse events, as well as with biopharmaceutical companies on indication expansion and de-risking of their portfolios (http://www.biovista.com).
For further information please contact: Aris Persidis Biovista, Inc. [email protected] +1-434-242-6514