M&A Madness: Novartis Continues Buying Spree
Novartis (NYSE: NVS) remains at the center of January’s flurry of M&A activity after entering three different agreements on Monday. The Wall Street Journal also reported this afternoon that the company is in advanced talks to buy Cytokinetics (Nasdaq: CYTK).
Highlights
Calypso Biotech, an immunotherapy biotech company that discovers and develops monoclonal antibodies for the treatment of immune pathologies with large unmet medical needs, has agreed to be acquired by Novartis for an upfront payment of $250 million. Calypso has the opportunity to gain an additional $175 million based on development milestones. Novartis will continue development of Calypso’s CALY-002 for the treatment of celiac disease and eosinophilic esophagitis.
Shanghai Argo Biopharmaceutical Co., will receive an upfront payment of $185 million from Novartis and is eligible to receive potential option and milestone payments as well as tiered royalties on commercial sales. Under the agreement, Novartis will receive an ex-Greater China exclusive license for a Phase 1/2a stage cardiovascular asset, a worldwide exclusive license for a Phase 1 stage cardiovascular asset as well as an option to license compounds directed against up to two cardiovascular targets.
About Novartis
Novartis is an innovative medicines company. Every day, we work to reimagine medicine to improve and extend people’s lives so that patients, healthcare professionals and societies are empowered in the face of serious disease. Our medicines reach more than 250 million people worldwide.
