Novartis committed $100 million to Unnatural Products to advance macrocyclic peptide technology aimed at previously undruggable targets, joining existing collaborations the startup holds with BridgeBio, Merck, and argenx. The alliance couples Unnatural Products’ discovery engine with Novartis’ global development and commercialization infrastructure. Deal terms include upfront and milestone payments and tiered royalties; analysts framed the pact as part of a broader industry bet on constrained‑fluid modalities (macrocycles, cyclic peptides) to reach challenging intracellular and protein‑protein interaction targets. A deeper industry dossier examined the commercial and scientific contours of the collaboration.