10:15 PM
 | 
Mar 31, 2019
 |  BC Extra  |  Company News

Novartis buying IFM inflammasome unit less than a year after launch

Novartis will pay $310 million up front to acquire IFM Tre and its trio of NLRP3 antagonists. Shareholders of the inflammatory disease subsidiary are also eligible for up to $1.3 billion in milestones.

IFM Therapeutics LLC (Boston, Mass.) launched IFM Tre Inc. in July with a $31 million series A round co-led by Atlas Venture, Abingworth, Bristol-Myers Squibb Co. (NYSE:BMY) and IFM’s management (see "IFM Launches Subsidiary with $31M Series A").

The deal comes just days after IFM Tre started a Phase I trial...

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