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Forma, Novartis Strike Drug Deal

Forma Therapeutics, a Cambridge, MA-based developer of cancer drugs, reports it has struck a license and option agreement with Swiss drug giant Novartis, through Forma investor Novartis Option Fund. Novartis will pay Forma an upfront fee and potential payments of more than $200 million, providing Novartis the option to license from Forma drugs that inhibit an undisclosed protein-protein interaction in the field of oncology. (I wrote last week that Forma was expecting to announce this deal.)