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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