Novartis acquires Selexys Pharmaceuticals

Novartis has acquired Selexys Pharmaceuticals Corporation, a company specialising in the development of therapeutics in certain hematologic and inflammatory disorders.

The acquisition followed a study in which the use of SelG1, an antibody, was evaluated in the reduction of pain amongst patients with sickle cell disease.

Terms of the deal could total up to $665 million in upfront, acquisition and milestone payments, according to a statement from Novartis.

Bruno Strigini, CEO of Novartis Oncology, said: "Sickle cell disease affects millions of people around the world and there are limited therapies available for treatment of vaso-occlusive pain crises, a very common complication of the disease."

He added: “With this acquisition, Novartis is able to leverage its leadership in hematology research to advance development of a potential new treatment option for patients living with this debilitating condition.”

Novartis had obtained the exclusive right to acquire Selexys and SelG1 in 2012.