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ARTICLE | Company News

Novartis, Aduro partner in STING deal

March 31, 2015 1:06 AM UTC

Novartis AG (NYSE:NVS; SIX:NOVN) and Aduro Biotech Inc. (Berkeley, Calif.) partnered to develop cancer therapies using Aduro's cyclic dinucleotide (CDN) platform to generate receptor agonists of STING (transmembrane protein 173; TMEM173).

Novartis will pay Aduro $200 million in cash up front and invest an additional $25 million for a 2.7% equity stake. Aduro will receive another $25 million in exchange for a separate equity stake on an undisclosed future date, and is eligible for up to $500 million in development milestones. Aduro will retain exclusive U.S. commercialization rights to resulting products, while Novartis will have exclusive ex-U.S. rights. ...