A small Morrisville drug company co-founded by UNC Chapel Hill Chancellor Holden Thorp has signed a development deal that could bring in more than $200 million.
Viamet Pharmaceuticals this morning announced an agreement with the Novartis Option Fund to develop a treatment targeting a type of enzyme known as a metalloenzyme that contains a metal, typically zinc or iron. Viamet's technology is designed to shut down the activity of key metalloenzymes, and make safer and more effective medicines.
The deal includes an upfront fee and milestone payments that could be worth more than $200 million if the treatment proves successful down the road.
That's a significant amount of money for a Triangle company with eight employees.