As reported by John Carroll, Fierce Biotech, Novartis has proffered nearly a $1 B deal to France's Trangene - $10 M upfront with hundreds of millions more in milestones - for an option on its late stage drug TG4010. The drug is entering a pivotal phase III trial for the treatment of non-small cell lung cancer. Novartis will have 90 days to review phase IIb trial data and to decide whether it wishes to exercise its option.
Yesterday, Abbott announced its purchase of Facet Biotech for $450 M as reported in Fierce Biotech. The deal gives Abbott new therapuetics in its pipeline for immunology and oncology. The initial prize is likely to be daclizumab - a phase IIb therapy for multiple sclerosis (MS). This is scheduled to move into phase III trials in the second quarter of 2010. Biogen Idec is also partnering on daclizumab, but whereas Biogen failed to consumate its purchase attempt of Facet Biotech last year, Abbott has succeeded.
Posted by Bruce Lehr March 11th 2010.
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