Novartis Reports the Acquisition of Kate Therapeutics for ~$1.1B
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- Novartis has agreed to acquire Kate Therapeutics, strengthening its portfolio comprising of gene therapies for neuromuscular diseases
- As per the agreement, Kate Therapeutics’ shareholders are eligible to receive ~$1.1B, including undisclosed upfront and payments on reaching a certain milestone
- The acquisition adds Kate’s preclinical KT-430 for X-linked myotubular myopathy, KT-809 for DMD, 4 discovery candidates (facioscapulohumeral dystrophy, muscular dystrophy, cardiomyopathy & myotonic dystrophy type-1) as well as two platforms Deliver and Cargo to develop AAV-based gene therapies, to Novartis’ portfolio
Ref: Novartis | Image: Kate Therapeutics
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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.
