April 1, 2019 / 6:17 AM / 5 months ago

Novartis pays $310 mln upfront for inflammation specialist IFM

ZURICH, April 1 (Reuters) - 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. (Reporting by John Miller, editing by John Revill)

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