By Katherine Hamilton
BioAge Labs shares rose Wednesday after it said it entered into a research collaboration with the Swiss biopharmaceutical company Novartis, which could earn BioAge up to $550 million.
Shares climbed 14% to $4.67, helping to regain some of the 76% loss BioAge experienced on Dec. 6 after it said it was discontinuing a phase-two trial for its obesity treatment.
The Richmond, Calif.-based biopharmaceutical company will collaborate on a multi-year research project with Novartis investigating what drives aging-related diseases and the role of physical exercise in longevity. It combines BioAge's human longevity datasets with Novartis's specialty in exercise biology, BioAge said.
Under the terms of the agreement, BioAge will receive upfront research funding and payments of up to $20 million, and up to $530 million in future research, development and commercial milestones. BioAge and Novartis both have the right to advance novel targets discovered during the collaboration.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
December 18, 2024 10:21 ET (15:21 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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