Edgewise Therapeutics Inc. (EWTX), a muscle disease biopharmaceutical company, has agreed to sell Sevasemten and its muscular dystrophy business to Servier, an independent international pharmaceutical group, for $1.55 billion in upfront cash consideration and up to $1.1 billion in additional milestone payments, for aggregate potential consideration of up to $2.65 billion.
Sevasemten, the company's lead drug candidate, is being studied in late-stage clinical trials in Becker and Duchenne muscular dystrophy.
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