Four-Person Biotech Makes Huge Deal with Novartis

Lubris BioPharma, a four-person, privately held biotech in Framingham, Mass., has struck a licensing deal with Novartis for a dry-eye treatment known as ECF843 that could generate as much as $1 billion in total payments and royalties.

Novartis and Lubris did not disclose the financial terms. But an article in the Boston Business Journal reported that sources said the upfront payment to Lubris, combined with potential milestone payments and royalties if the drug hits the market, has the potential to surpass $1 billion.

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