Matchpoint's approach leverages the properties of covalent chemistry and a proprietary platform to target a novel binding site on a historically hard-to-drug protein. The result is to precisely inhibit that protein's function and the resulting production of pro-inflammatory cytokines and chemokines.

Under the terms of the agreement, Matchpoint will utilize its Advanced Covalent Exploration (ACE)™ platform to advance its preclinical program through development candidate selection. Matchpoint will lead all research activities to that point and will receive research funding from Novartis. If Novartis exercises its option to exclusively license the program, Novartis will have global rights to develop and commercialize all products resulting from the collaboration. Matchpoint is eligible to receive up to $1 billion in total payments, including development and commercial milestones, plus tiered royalties on future product sales.