BioAge Labs (BIOA) said Wednesday it is teaming up with Novartis (NVS) to identify drug targets to treat diseases related to aging.
The multiyear research collaboration will use BioAge's human longevity data and platform and Novartis' expertise in physical exercise biology, BioAge said.
The company said under the deal, it will get up to $20 million in upfront payments and research funding and may receive up to $530 million in future long-term research, development and commercial milestones.
Each company has the right to advance novel targets discovered under the partnership and is eligible to get reciprocal success milestones and tiered royalties, BioAge said.
Shares of BioAge jumped nearly 14% and Novartis fell 0.4% in recent Wednesday trading.
Price: 4.70, Change: +0.60, Percent Change: +14.63
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