Novartis International AG, the Switzerland based multinational pharmaceutical corporation, has exercised an option for the acquisition of all outstanding capital stock of IFM Due, Inc., a US based biopharmaceutical company developing small-molecule, orally available drug candidates targeting aberrant inflammatory responses, from IFM Therapeutics, LLC, the US based pharmaceutical company focused on developing biological treatments for autoimmune diseases, for a total consideration of USD 835m, consisting of USD 90m in upfront payment and USD 745m in milestone payments. The strategic acquisition will grant Novartis the complete rights to IFM Due’s portfolio of STING antagonists, which address a range of serious inflammation-driven diseases.
- Target – Ifm Due, inc.
- Buyer – Novartis International AG
- Seller – Ifm Therapeutics, llc
