Novartis Acquires IFM for $835M to Advance First-In-Class STING Antagonist Program Targeting the Innate Immune System

Boston, MA, March 13, 2024 (PR Newswire) -- IFM Therapeutics, a leading biopharmaceutical firm specializing in innovative therapies for the innate immune system, announced today that Novartis has opted to acquire IFM Due, its subsidiary formed in February 2019, which focuses on developing small molecules targeting the cGAS-STING pathway. This decision follows an option and collaboration agreement forged between the two companies in September 2019, wherein Novartis provided fixed payments to support IFM Due's research and development endeavors. As part of this agreement, IFM has received an upfront payment of $90 million and stands to gain up to $745 million in milestone payments, amounting to a substantial total consideration of $835 million.

Read full article here.