In December 2016, Quartet Medicine entered into a strategic agreement with Merck to advance development of Quartet’s pipeline of novel small molecule drugs modulating the tetrahydrobiopterin (BH4) pathway. Merck is an ideal partner to help advance Quartet’s potential first-in-class therapy for chronic pain and provides a mutually beneficial collaboration framework, while providing Quartet with significant non-dilutive funding for its development program.
Under the terms of the agreement, Quartet receives $20 million in development funding based on near term milestones and provides Merck an exclusive option to acquire the program for a pre-determined, undisclosed option exercise payment along with potential development, regulatory and sales milestones of up to $575 million in total.
Atlas Venture is a leading early stage venture capital firm that invests in life science and technology companies. We have approximately 25 active life science companies in our current portfolio across both drug discovery platforms and asset-centric development companies. We focus on seed-stage venture creation, where we help found companies focused on transformative medical innovations and invest our time, expertise, and network in collaboration with our entrepreneurs and management teams to make them successful. For more information please visit www.atlasventure.com.
The Novartis Venture Fund (NVF) invests in innovative life science companies for areas of unmet medical need that create attractive returns for entrepreneurs and investors. The NVF is stage-agnostic, engaging in investments from seed- to later-stage life sciences companies across biotechnology, medical devices and diagnostics and currently manages over USD 1 billion in committed capital and more than 45 portfolio companies. For more information please visit www.nvfund.com.
Pfizer Venture Investments (PVI), the venture capital arm of Pfizer, Inc., was founded in 2004 and invests for return in areas of current or future strategic interest to Pfizer. As part of Worldwide Business Development, PVI seeks to remain at the forefront of life science advances, looking to identify and invest in emerging companies that are developing compounds and technologies that have the potential to enhance Pfizer’s pipeline and shape the future of our industry. For more information please visit www.pfizer.com.
The Partners Innovation Fund is the strategic venture capital fund for Partners HealthCare, founded by the Massachusetts General Hospital and Brigham and Women’s Hospital. The mission of the fund is to provide the necessary support to commercialize innovations in medical informatics, diagnostics, drugs and devices that emerge from the Partners HealthCare investigator community. For more information, please visit Partners Innovation Fund. For more information please visit innovation.partners.org.
Remeditex is a company that seeks to develop transformative patient focused life science opportunities in need of commercial validation, guidance and capital. Its objectives are to accelerate the pace of commercialization research, to help create and support a thriving biotechnology industry not only in Texas but throughout the country, to encourage biotech venture capital to invest outside of the traditional hubs and to achieve returns to support the next generation of promising science. The company is located in Dallas, Texas. More information is available at www.remeditex.com.