Novartis laterals two PhII anti-aging drugs to a PureTech startup, grabbing an equity stake
Pharma giant Novartis is spinning out a pair of Phase IIb-ready drugs now bound for advanced trials on repairing the deteriorating impact of aging on the human immune system.
Boston-based PureTech Health is on the receiving end of the deal, setting up a subsidiary called resTORbio which it will now fund, in tranches, with $15 million. And it can earn a growing stake in the operation, rising to 58% on the allocation of the full $15 million, with an option to increase that to 67% if it adds $10 million more.
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