Novartis buys Spinifex Pharma for $200M

New Delhi, July 01, 2015

Novartis (NYSE:NVS) acquires Preston, Australia-based Spinifex Pharmaceuticals for $200M plus milestones. The deal is expected to close later this year.

Spinifex’s lead product candidate is Phase 2 stage EMA401, an orally available angiotensin II type 2 (AT2) receptor antagonist under development for the treatment of chronic pain, specifically neuropathic pain, without central nervous system (CNS) side effects. Neuropathic pain, such as post herpetic neuralgia, diabetic neuralgia or diabetic neuropathy, is caused by a lesion or disease of the CNS. Current treatments fail to work for all patients and are not well tolerated.

Bloomberg