Novartis Acquires Vedere Bio for $280M

 Novartis Acquires Vedere Bio for $280M

Novartis Acquires Vedere Bio for $280M

Shots:

  • Vedere Bio received $150M as upfront payments and is eligible to receive up to $130M as milestones making a total deal value of $280M. The transaction closed in Sept’2020
  • The acquisition will strengthen Novartis’ footprints with the addition of lead preclinical intravitreally injected AAV gene therapy programs focused on pan-genotypic vision restoration in patients with photoreceptor-based vision loss
  • Prior to the acquisition, earlier-stage vision restoration and vision preservation assets leveraging the company’s ocular gene therapy toolbox were spun out into a newly formed entity – Vedere Bio II. The new company will operate as a wholly independent entity from Novartis and Vedere Bio

Click here ­to­ read full press release/ article | Ref: PRNewswire | Image: Easier Accounting

Tuba Khan

Tuba Khan is Senior Editor at PharmaShots. She is curious, creative, and passionate about recent updates and innovation in the Life sciences industry. She covers Biopharma, MedTech, and Digital health segments. Tuba also has an experience of digital and social media marketing and runs the campaigns independently. She can be contacted on tuba@pharmashots.com

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