Novartis enters option and deal with IFM Therapeutics, worth up to $840 million

6 September 2019
novartis_basel_stock_large

In a second deal between the companies, privately-held Boston, USA-based biotech IFM Therapeutics, through its IFM Due unit, has reached a collaboration and exclusive option agreement with Swiss pharma giant Novartis (NOVN: VX) to develop a suite of immunotherapies that inhibit the cGAS/STING pathway to treat a range of serious inflammatory and autoimmune diseases.

Under the terms of the agreement, Novartis will make fixed payments sufficient to fully finance IFM Due's research and development costs for the cGAS/STING program in exchange for the option to acquire the IFM Due subsidiary. Upon option exercise, IFM Due's shareholders will be entitled to receive up to $840 million, including an upfront payment upon option closing and other contingent consideration.

Adds to previous deals

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK

Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight





More Features in Biotechnology