Dtx Pharma Announces Acquisition By Novartis; Novartis To Make An Upfront Payment Of $500M And Additional Payments Up To $500M Upon Completion Of Pre-Specified Milestones
Portfolio Pulse from Benzinga Newsdesk
Novartis has acquired DTx Pharma, a preclinical stage biotechnology company. The acquisition includes DTx Pharma's FALCON platform and its lead program, DTx-1252, a potential treatment for Charcot-Marie-Tooth Disease Type 1A (CMT1A). Novartis will make an upfront payment of $500M and additional payments of up to $500M upon completion of pre-specified milestones.
July 17, 2023 | 12:10 pm
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Novartis has acquired DTx Pharma, potentially strengthening its position in the neuromuscular and CNS indications market. The acquisition cost is $500M upfront with potential additional payments of $500M.
The acquisition of DTx Pharma by Novartis could potentially strengthen Novartis' position in the neuromuscular and CNS indications market. The acquisition includes DTx Pharma's FALCON platform and its lead program, DTx-1252, a potential treatment for CMT1A. This could potentially lead to new revenue streams for Novartis in the future.
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