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Report: Stamford pharma deal could hit $700m

2015-06-30 03:27:46| Biotech - Topix.net

Spinifex Pharma, led the past 10 years by CEO Tom McCarthy, is being acquired by Novartis for $200 million up front, and reportedly as much in $500 million in future payments depending on milestones the pain medication company achieves. Photo: Alexander Soule / Alexander Soule Swiss giant Novartis is acquiring Stamford-based Spinifex Pharmaceuticals , a 20-person startup developing drugs to treat chronic pain, in a deal worth as much as $700 million.

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Category:Biotechnology and Pharmaceuticals

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