Swiss pharmaceutical giant Novartis has acquired Kate Therapeutics for $1.1 billion. The San Diego, US-headquartered preclinical stage biotechnology company develops adeno-associated virus (AAV)-based gene therapies to treat inherited neuromuscular diseases.
The technology platforms developed by Kate Therapeutics integrate capsid and cargo technologies to deliver payloads to desired tissues, while potentially mitigating off-target effects to tissues such as the liver. This approach aims to improve both the efficacy and safety of gene therapies, opening potential possibilities for treating complex diseases previously difficult to address with current technologies, including inherited neuromuscular diseases.
Kate Therape’ primary programs include preclinical candidates for Duchenne muscular dystrophy (DMD), facioscapulohumeral dystrophy (FSHD), and myotonic dystrophy type 1 (DM1).
Fiona Marshall, president of Biomedical Research at Novartis, said: “We have been highly impressed with the rigor and potential of Kate’s science, and we are confident this acquisition will further enhance our ability to bring forward new therapeutic options for patients living with neuromuscular diseases.”
“This acquisition builds on our expertise and leadership in neuroscience drug discovery and brings to Novartis talent, expertise and capabilities that are highly complementary to our ongoing internal efforts,” added Robert Baloh, global head of Neuroscience Research at Novartis.
Under the terms of the agreement, Kate Therapeutics’ shareholders are also entitled to receive additional amounts payable on achievement of specified milestones.
Source: chemanager-online.com
As the clock ticks down on 2024, Novo Holdings’ proposed $16.5 billion buyout of CDMO giant Catalent—which the companies have said they expect to close before year-end—just received a major vote of confidence from antitrust officials overseas.
With EuroAPI’s restructuring plan underway, the Sanofi spinoff has pulled a new CEO from within its ranks to guide the company’s next chapter. Drug ingredients specialist EuroAPI on Monday said it had accepted the resignations of Ludwig de Mot as CEO and Viviane Monges as chair of the manufacturer’s board.
During an investor update Thursday, Lonza unveiled its “One Lonza” restructuring strategy, under which the company will reorganize its CDMO business, reshape its operating model, work to “elevate” manufacturing and engineering and expand its production footprint.
