Beautiful Mornin' for Oklahoma's Selexys as it bags $665m Novartis option and venture round
This article was originally published in Scrip
A Series A financing concurrent with a Big Pharma option to buy your lead drug candidate? The scenario is not as elusive as it may seem, since the US venture Selexys Pharmaceuticals - like other private companies since MPM Capital began managing investment funds for Novartis Pharmaceuticals in 2007 - has achieved both financial milestones in one fell swoop.
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Novartis has exercised its option to acquire Selexys in a deal worth up to $665m, following data from the Phase II SUSTAIN trial of SelG1 in sickle cell disease. The move follows several recent failures in the space.
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