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Novartis To Buy Cadent Therapeutics For Up To $770 Mln - Quick Facts

Novartis (NVS) announced Thursday that it has agreed to buy all of the outstanding capital stock of Cadent Therapeutics. Cadent and Novartis anticipate the transaction will close during the first quarter of 2021.

Upon the closing of deal, Cadent Therapeutics said it will receive $210 million upfront and up to $560 million in milestone payments, for a potential total of $770 million.

Novartis specified that this acquisition adds two new clinical stage programs to the Novartis neuroscience portfolio, one for schizophrenia and the other for movement disorders.

The acquisition also includes MIJ821, a clinical stage molecule that Novartis licensed exclusively from Cadent in 2015 for treatment-resistant depression.

Cadent Therapeutics is a privately held clinical stage biopharmaceutical company focused on the development of therapies for the treatment of cognitive, mood, and movement disorders.

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