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Novartis acquires pain play Spinifex

June 30, 2015 2:16 AM UTC

Novartis AG (NYSE:NVS; SIX:NOVN) will acquire chronic pain treatment developer Spinifex Pharmaceuticals Pty. Ltd. (Preston, Australia) for $200 million up front. Spinifex shareholders are eligible for undisclosed milestones. The companies expect the deal to close next half.

Spinifex's lead candidate is EMA401, an angiotensin II type 2 (AT2) receptor ( ATGR2) antagonist. Last year, EMA401 met the primary endpoint of reducing pain vs. placebo in a Phase II trial to treat postherpetic neuralgia (PHN). Spinifex said Novartis plans to begin Phase IIb studies to treat patients with PHN or painful diabetic neuropathy (PDN), and "pursue a broad peripheral neuropathic pain (PNP) label." ...