novartis_outside_1

Novartis acquires Cadent Therapeutics in potential $770 million deal

pharmafile | December 17, 2020 | News story | Sales and Marketing Cadent, Novartis, acquisition 

Novartis has sealed an agreement with Cadent Therapeutics to acquire the firm in a deal worth up to $770 million, it has emerged.

The terms of the partnership state that Cadent will receive an upfront payment of $210 million once the agreement has closed, with a further $560 million up for grabs based on the achievement of commercial and regulatory milestones.

The main prize of the deal for Novartis will be Cadent’s portfolio in neuroscience, including two N-methyl-D-aspartate receptor (NDMAr) therapies: CAD-9303, a NMDAr positive allosteric modulator, and MIJ-821, a NMDAr negative allosteric modulator.

“Since the company’s launch, the Cadent team has been focused on building a portfolio of next-generation small molecule treatments for cognitive, mood, and movement disorders,” remarked Jodie Morrison, Chief Executive Officer of Cadent Therapeutics. “The expertise of Novartis in development of CNS therapeutics – something we have witnessed first-hand in our existing collaboration – provides an ideal foundation for continued advancement of the Cadent pipeline and will ensure the broad potential of these drugs is realised for patients.”

Advertisement

The deal is expected to close in the first quarter of next year.

Matt Fellows

Related Content

Novartis receives SMC approval for early breast cancer treatment

Novartis has announced that its treatment for early breast cancer, Kisqali (ribociclib), has received approval …

drug-trials

Novartis candidate for Sjögren’s disease presents positive results

Novartis has reported positive results from two phase 3 clinical trials – NEPTUNUS-1 and NEPTUNUS-2 …

Mosquito image

First malaria medicine for infants under 4.5kg receives approval

Coartem (artemether-lumefantrine) Baby, or Riamet, has been approved by Swissmedic as the first malaria medicine …

The Gateway to Local Adoption Series

Latest content