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    • Novartis to pay $310...

    Novartis to pay $310 million for assets from inflammation specialist IFM

    GarimaWritten by Garima Published On 2019-04-02T09:00:33+05:30  |  Updated On 16 Aug 2021 12:13 PM IST

    IFM, whose research head Martin Seidel spent more than a decade at Novartis before assuming R&D duties at IFM in 2017, focuses on immune system modulation. In buying three potential drugs, Novartis is hoping for agents to fight chronic inflammatory disorders like gout, atherosclerosis and fatty liver disease (NASH), as well as inflammatory bowel disease.


    ZURICH: Novartis on Monday said it had agreed to pay $310 million upfront, with the possibility for more later, for some research assets of Boston-based inflammation specialist IFM Therapeutics as the Swiss drugmaker expands its immunology pipeline.


    The deal, for the IFM subsidiary IFM Tre, could eventually reach nearly $1.6 billion, IFM said, should its portfolio meet certain milestones. IFM Tre has one molecule, IFM-2427, in an early Phase 1 trial, and a pair of less-developed assets.


    Read Also: Newly approved MS drug Mayzent priced at USD 88000: Novartis


    IFM, whose research head Martin Seidel spent more than a decade at Novartis before assuming R&D duties at IFM in 2017, focuses on immune system modulation. In buying three potential drugs, Novartis is hoping for agents to fight chronic inflammatory disorders like gout, atherosclerosis and fatty liver disease (NASH), as well as inflammatory bowel disease.


    "These programs complement the existing Novartis pipeline of anti-inflammatory medicines," said Novartis, adding studies have shown IFM Tre's molecules can selectively suppress disease-causing inflammation while allowing the rest of the immune system to continue normal operations.


    Read Also: USFDA approves Novartis' oral drug Mayzent to treat multiple sclerosis


    IFM Therapeutics is part of the portfolio of Cambridge, Massachusetts-based Atlas Venture, whose other stakes include Intellia Therapeutics that is also working with Novartis. The IFM Tre deal is seen closing before July.

    atherosclerosisAtlas VentureCambridgefatty liverfatty liver diseasegoutIFMIFM Therapeuticsimmune systeminflammationinflammatory bowel diseaseIntellia TherapeuticsNASHNovartispharmapharma newsZURICH
    Source : Reuters

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    Garima
    Garima

      Garima joined Medical Dialogues in the year 2017 and is currently working as a Senior Editor. She looks after all the Healthcare news pertaining to Medico-legal cases, MCI/DCI decisions, Medical Education issues, government policies as well as all the news and updates concerning Medical and Dental Colleges in India. She is a graduate from Delhi University. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751 To know about our editorial team click here

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