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Novartis Takes Equity Stake in Somalogic as Firms Extend Research Pact

NEW YORK (GenomeWeb) – Somalogic said today that Novartis has extended its multi-year research agreement covering the use of Somalogic's aptamer-based proteomics platform for drug development work.

Under the extended agreement, the two companies will continue efforts begun under an initial 2011 agreement to build a proprietary version of Somalogic's SomaScan proteomics assay and develop novel Somamer binding reagents for preclinical and clinical applications in Novartis's portfolio.

Novartis will also take an equity stake in Somalogic as part of the agreement.

"Our ongoing relationship with Novartis is a model for how we seek to develop strong scientific collaborations that drive new discoveries and build value for both parties," Somalogic CEO Byron Hewett said in a statement.

Financial and other terms of the deal were not disclosed.

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