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Home » Novartis Agrees to Purchase Cadent Therapeutics for Up to $770 Million
Novartis Agrees to Purchase Cadent Therapeutics for Up to $770 Million
December 21, 2020
Novartis has announced plans to purchase Cambridge, Mass.-based Cadent Therapeutics for up to $770 million, expanding its pipeline of treatments for cognitive and mood disorders.
Under the agreement, Novartis acquires two clinical-stage molecules for schizophrenia and movement disorders, and MIJ821, a clinical-stage molecule previously licensed exclusively by Novartis for treatment-resistant depression.
The Swiss pharmaceutical giant will pay $210 million upfront for Cadent, which will be eligible for payments of as much as $560 million upon meeting specific milestones. Cadent and Novartis expect to complete the transaction during the first quarter of 2021.
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