Novartis Reports Acquisition of IFM Due for the Development of STING Antagonist Program
Shots:
- Novartis has opted to acquire all outstanding stock of IFM Therapeutics’ subsidiary, IFM Due, focusing on the development of cGAS-STING pathway inhibiting small molecules as per the agreement signed in Sep 2019 under which Novartis agreed to fund R&D costs in exchange for acquisition rights
- Under the option exercise terms, IFM obtained an upfront payment of $90M and stands to receive up to $745M milestones, making it a total payment of $835M
- Through this acquisition, Novartis gains full rights to IFM Due’s portfolio of STING antagonists focused on the treatment of inflammation-driven diseases marked by excessive interferon & other pro-inflammatory cytokine signaling
Ref: IFM Therapeutics | Image: Novartis
Related News:- Novartis Reports Updated Efficacy Data of Zolgensma from the P-IIIb (SMART) Study for the Treatment of Spinal Muscular Atrophy (SMA)
PharmaShots! Your go-to media platform for customized news ranging for multiple indications. For more information connect with us at connect@pharmashots.com
Click here to read the full press release
Tags
Disha is a content writer at PharmaShots. She is passionate and curious about recent updates and developments in MedTech and Pharma industry. She covers news related to clinical trial results and updates. She can be contacted at connect@pharmashots.com.
