Joe Jimenez forges another big-market, small-cash deal, lining up a kidney disease drug for his latest portfolio startup
Ex-Novartis CEO Joe Jimenez and his partner Mark Fishman put together a $133 million fund to back their play at Aditum, looking to add select drugs for a lineup of subsidiary operations with potential to conquer big market diseases.
But they aren’t splashing the cash around.
Tuesday morning Jimenez and Fishman put out word that they had parceled out a low-ante upfront of $2 million to bag a Phase II-bound, anti-inflammatory Nrf2 drug from vTv Therapeutics after it had completed 2 Phase I trials — which evidently proved the drug is tolerable to patients. There’s another $151 million in milestones on the table, but that stretches all the way through commercial.
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