Novartis acquires Cadent Therapeutics in potential $770 million deal
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.”
The deal is expected to close in the first quarter of next year.
Alfasigma and Intercept Pharmaceuticals have announced that they have entered into a definitive merger agreement, …
Pharmanovia has announced that it will expand its neurology portfolio with the acquisition of a …