Novartis Inks $1B-Plus Deal with Generate Biomedicines for AI-Designed Therapeutics

Novartis signed a multi-target collaboration deal with Generate Biomedicines worth potentially more than $1 billion to develop AI-designed protein therapeutics across multiple indications. Under the agreement, Novartis provided $65 million in cash upfront (including a $15 million equity purchase), with over $1 billion in milestone payments and tiered royalties.

The partnership leverages Generate's proprietary generative AI platform for de novo protein design, combined with Novartis' expertise in clinical development. This was Generate's second major pharma partnership, following a deal with Amgen worth up to $1.9 billion signed in 2022.

Generate Biomedicines was co-originated at Flagship Pioneering by TJHSST alum Geoffrey von Maltzahn, who also co-founded Indigo Agriculture.