BioCentury
ARTICLE | Company News

In third pharma deal, IFM partners cGAS-STING unit with Novartis

September 5, 2019 11:00 AM UTC

IFM Therapeutics' subsidiary model continues to pay off as the innate immune company scores its third high-value pharma deal in as many years. The biotech teamed up with Novartis Thursday in a collaboration and acquisition option agreement for its IFM Due subsidiary less than seven months after its launch.

Novartis AG (NYSE:NVS; SIX:NOVN) will finance IFM Due's R&D costs in exchange for an option to acquire the subsidiary for up to $840 million in upfront and milestone payments. Lina Gugucheva, VP of business development, operations & strategy at IFM Therapeutics LLC (Boston, Mass.), told BioCentury the fixed amount IFM Due receives for research expenses is undisclosed but comparable to a "very healthy VC round." ...