October 19, 2016 / 12:20 PM / a year ago

BRIEF-Cerulean Pharma and Novartis enter strategic collaboration

Oct 19 (Reuters) - Cerulean Pharma Inc

* Cerulean Pharma Inc says company has entered into a strategic collaboration with Novartis

* Cerulean Pharma Inc says Cerulean will receive an upfront payment of $5 million and is eligible for milestone payments plus sales royalties for each target

* Cerulean Pharma -following regulatory approval of NDC products, co can earn single-digit to low double-digit tiered royalties on net sales for each NDC product

* Cerulean Pharma - under terms of agreement co is also eligible to receive preclinical, clinical, regulatory, and sales milestones for each target

* Collaboration with Novartis will create nanoparticle-drug conjugates directed at up to five targets Source text for Eikon: Further company coverage:

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