The acquisition of Selexys Pharmaceuticals Corporation could total up to USD 665 million (CHF 671 million) in upfront, acquisition and milestone payments, writes Novartis in a statement.
Novartis had obtained the exclusive rights to acquire Selexys back in 2012 and has now exercised those rights after it received the results of a Phase II trial evaluating the use of the antibody SelG1. The results will be presented to the public in early December.
Selexys developed SelG1 to reduce vaso-occlusive pain crises, a major complication of sickle cell disease (SCD), that occur when sickle-shaped blood cells block blood flow through blood vessels.
“Sickle cell disease affects millions of people around the world and there are limited therapies available for treatment of vaso-occlusive pain crises, a very common complication of the disease,” said Bruno Strigini, CEO of Novartis Oncology.
“With this acquisition, Novartis is able to leverage its leadership in hematology research to advance development of a potential new treatment option for patients living with this debilitating condition.”
