Luc enters depression treatment IP licensing deal with Novartis

Biotechnology company Luc Therapeutics has agreed to licence its intellectual property covering its depression treatment to Novartis, stating that it will accelerate its programme into how to help people living with psychiatric diseases.

Both companies will work together on developing Luc’s selective NDMA receptor negative allosteric modulators.

Luc has agreed to licence its IP covering the treatment. In return, Novartis will fund the development of the drug.

Novartis will pay an upfront fee to Luc and further royalties on the sale of the product.

The agreement was reached on Monday, October 19. No further financial details have been disclosed.

Vanessa King, chief executive of Luc, said that “these compounds have the potential to yield therapeutics that are able to improve the lives of patients with depression more profoundly than products that exist in the market today.

“This collaboration demonstrates that Luc’s proprietary NMDA receptor-focused medicinal chemistry and pharmacology capabilities are able to create assets worthy of being accelerated towards the clinic,” she added.