OKC pharmaceutical firm acquired in $665 million dealPublished: Monday, November 21, 2016 By: Don Mecoy Source: NewsOK
A global pharmaceutical company will pay up to $665 million for an Oklahoma City research firm that recently completed a large trial of a drug that treats pain among those with sickle cell disease.
Novartis on Monday announced it has acquired Selexys Pharmaceuticals Corp., a Oklahoma City company specializing in development of therapeutics in certain hematologic and inflammatory disorders.
In 2012, Novartis obtained the exclusive right to acquire Selexys and the drug SelG1. Novartis said it exercised rights to buy the company after seeing results from a large trial into a drug to treat pain among those with sickle cell disease.
Terms of the deal could total up to $665 million in upfront, acquisition and milestone payments.