UPDATED: Intercept sells ex-US rights to PBC drug as it gears up for a second-chance shot at NASH
Intercept Pharmaceuticals, the biotech that brought NASH to the forefront of drug development R&D, has sold off the ex-US rights to its autoimmune disease drug Ocaliva as the company prepares the same med for another shot at the disease. And with the biotech on tap for a pre-submission meeting with the FDA this year in NASH, execs now have additional funds to bankroll that work.
European specialty pharma brand Advanz is dishing out $405 million upfront and up to $45 million more to gain the ex-US rights to Ocaliva, most of Intercept’s international operations and certain subsidiaries, the company said Thursday. Taken together, that’s about the same figure as Intercept’s cash on hand at the end of 2021: $429.4 million.
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