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.
You may also be interested in...
Private Company Edition: Martin Mackay and two other former Alexion executives co-founded the rare disease start-up in January with a $37m Series A to kick things off. Also, Innovent raises $150m in venture cash, Tmunity adds $35m and Third Rock launches Cedilla.
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.
Amgen detailed plans for increasing sales of drugs acquired in its Horizon transaction and outlined growth opportunities in its R&D pipeline during a rare disease showcase.