Novartis acquired DTx Pharma, a San Diego, CA-based biotechnology company, for approx. $1 Billion.
Novartis will make an upfront payment of $500M and additional payments of up to $500M upon completion of pre-specified milestones.
The acquisition includes DTx-1252 with the potential to deliver a transformative medicine to Charcot-Marie-Tooth Disease Type 1A (CMT1A) patients, additional early-stage programs in neuromuscular and CNS indications.
Led by Artie Suckow, Ph.D., CEO, and Peter Condon, CBO, DTx Pharma is a biotechnology company, addressing the challenges associated with delivering RNA-based therapeutics beyond the liver with its proprietary Fatty Acid Ligand Conjugated OligoNucleotide (FALCON™) technology platform. The FALCON platform leverages fatty acids for enhanced biodistribution and cellular uptake to tissues and cell types throughout the body. In preclinical studies, FALCON siRNAs have demonstrated potent and durable repression of target genes in the peripheral nervous system (PNS), skeletal muscle, heart, skin and CNS. FALCON siRNAs can be delivered by intravenous, subcutaneous and intrathecal routes of administration and can be manufactured at relatively low cost. The company has a pipeline focused on PNS, CNS and neuromuscular diseases.
DTx Pharma’s lead asset, DTx-1252, is a novel, potential first-in-class, FALCON siRNA candidate targeting PMP22. The asset boasts a preclinical package, demonstrating the reversal of disease in preclinical rodent models and translation to higher species with IND-enabling studies progressing well.
The company has raised more than $115M in combined investment from several of the world’s leading healthcare investors including RA Capital Management, Access Biotechnology, Surveyor Capital (a Citadel company), Eli Lilly and Company, Friedman Bioventure, Viva Biotech Holdings, as well as support from research foundations including the CMT Research Foundation (CMTRF) and the National Institutes of Health.
FinSMEs
18/07/2023