Novartis buys IFM Tre for $1.575 Billion from IFM Therapeutics

The logo of Swiss drugmaker Novartis is seen at its headquarters in Basel, Switzerland October 22, 2013. REUTERS/Arnd Wiegmann/File Photo
The logo of Swiss drugmaker Novartis is seen at its headquarters in Basel, Switzerland October 22, 2013. REUTERS/Arnd Wiegmann/File Photo

Novartis has purchased IFM Tre, a subsidiary of IFM Therapeutics LLC focused on developing ani-inflammatory medicines targeting the NLRP3 inflammasome, which will add one clinical and two preclinical programs targeting the NLRP3 inflammasome, a key component of the innate immune system.

The acquisition, expected to complete in the second quarter of 2019, will give Novartis full rights to IFM Tre’s portfolio of NLRP3 inhibitors.

IFM noted in its announcement it will receive $310 million in upfront payments and will be eligible for up to $1.265 billion in milestone payments, for a total of $1.575 billion in total consideration.

“IFM Tre’s compounds have demonstrated that they can fine-tune the immune system, offering a potentially potent approach for treating a large variety of diseases associated with inflammation,” said Jay Bradner, President of the Novartis Institutes for BioMedical Research.

Gary D. Glick, Ph.D., Chief Executive Officer and Co-Founder of IFM Therapeutics, said: “Today’s announcement marks a significant milestone in the development of next-generation therapies for serious inflammatory conditions. Based on substantial pre-clinical and translational data, we believe NLRP3 inhibition represents a novel approach to preventing the overactive inflammation that drives the onset and progression of numerous metabolic, fibrotic, autoimmune and neurological diseases.”