Novartis licenses Caliper tech

Caliper Life Sciences, which makes software used for drug development, said today that drug maker Novartis AG has purchased a license for the company's optical imaging methods.

Under the multiyear agreement, Novartis will have access to Caliper's patented optical imaging, which allows scientists to track biological processes at the molecular level. Financial details of the agreement were not disclosed.

According to Caliper, which is based in Hopkinton, roughly 70 percent of major pharmaceutical companies now use its imaging technology.

Shares of Caliper Life Sciences Inc. rose 2 cents Monday to $5.62 in midday trading. Shares of Novartis fell 60 cents to $53.94. (AP)