Novartis Gains Vedere Bio’s Cell Therapy for Blindness

Novartis has finalized its acquisition of Vedere Bio, giving the Swiss drugmaker access to new gene and cell therapies for the treatment of blindness.

Under the agreement, Vedere Bio will receive an initial $150 million with potential future milestone payments of $130 million.

The Cambridge, Mass., company is developing photoreceptor-protein-based therapies that it believes could deliver “functional vision to patients in need.”