IFM Therapeutics, a privately-held biopharmaceutical company focused on developing therapies that modulate novel targets in the innate immune system, announced today the completion of the previously-announced acquisition of its subsidiary, IFM Tre, by Novartis. IFM received $310 million in upfront payments concurrent with the close of the agreement, and is eligible for up to $1.265 billion in milestone payments.
The transaction awarded Novartis full rights to IFM Tre’s portfolio of NLPR3 antagonists, consisting of one clinical and two preclinical programs: IFM-2427, a first-in-class, clinical stage systemic antagonist for an array of chronic inflammatory and fibrotic disorders, including atherosclerosis and nonalcoholic steatohepatitis; preclinical gut-directed molecules for the treatment of inflammatory bowel disease; and preclinical central nervous system-penetrant molecules.
Date: May 13, 2019
Source: Market Watch
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