BioCentury
ARTICLE | Company News

Novartis buying IFM inflammasome unit less than a year after launch

April 1, 2019 5:15 AM UTC

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")...