Novartis: Cadent Therapeutics acquisition
Pharmaceutical firm Novartis has entered an agreement to acquire Cadent Therapeutics, a neuroscience company. The acquisition will add two clinical-stage programs to Novartis’s neuroscience portfolio (one for schizophrenia, another for movement disorders) and includes a buyout of milestones and royalties for MIJ821, a clinical stage molecule that Novartis had licensed from Cadent in 2015.
“We are committed to changing the lives of patients suffering from serious neuropsychiatric disorders for which there are limited treatment options,” said Jay Bradner, president of the Novartis Institutes for BioMedical Research (NIBR). “The Cadent acquisition follows a longstanding collaboration and shared ambition to bring forward novel neuropsychiatric medicines targeted at the root cause of disease.”
