Novartis on Monday said it had agreed to pay $310 million (£238 million) upfront...
FILE PHOTO: Swiss drugmaker Novartis' logo is seen at the company's plant in the northern Swiss town of Stein, Switzerland October 23, 2017. REUTERS/Arnd Wiegmann/File Photo
ZURICH - Novartis on Monday said it had agreed to pay $310 million upfront, with the possibility for more later, for some assets of Boston-based inflammation specialist IFM Therapeutics as the Swiss drugmaker seeks to expand its immunology pipeline. The deal for the IFM subsidiary IFM Tre could eventually reach nearly $1.6 billion, IFM said in a statement, should the portfolio of clinical and preclinical molecules meet milestones. IFM has one molecule, IFM-2427, in an early Phase 1 trial, as well as other less-developed assets.
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