Adds details throughout

Feb 18 (Reuters) - Unnatural Products said on Wednesday it has signed a licensing agreement with Novartis NOVN.S to develop macrocyclic peptide-based therapies for a cardiovascular program.

The California-based biotech company will receive up to $100 million in upfront payment and as much as $1.7 billion in development, regulatory, and commercial milestones. It will also be eligible for tiered royalties mid-single up to low double-digits on annual net sales.

The Swiss drugmaker will take the lead to oversee clinical development, manufacturing and global commercialization of any resulting drugs.

The company did not disclose the exact nature of the program.

Macrocyclic peptides are a class of therapeutic molecules shaped into a ring-like structure, which gives them advantages over traditional small-molecule drugs and larger biologics.