Further financial details are not disclosed. "It's a main strategy for us to boost the application of our Chemetics technology both by having internal programs as well as by application of the technology in partnerships and licensing arrangements. By entering into this agreement with Novartis, multiple Novartis research projects will benefit from having efficient access to much broader chemistry space in the search for the best drug candidates addressing major unmet medical needs," said Alex Gouliaev, CEO of Nuevolution A/S and continued, "We are looking forward to continue the excellent working relationship with Novartis' dedicated team to successfully transfer our technology for the practice by Novartis." This is the second agreement between Nuevolution and Novartis. In 2009, the companies entered into a drug discovery collaboration in which Nuevolution applied its proprietary Chemetics drug discovery technology against a limited number of drug targets of interest to Novartis.