Novartis slots PhI cardiovascular candidate into pipeline, paying Korean partner $80M upfront
Novartis is plucking a Phase I small molecule candidate out of Korea that it believes can treat a variety of diseases — including certain cardiovascular conditions.
Handing Chong Kun Dang Pharmaceutical (CKD) an upfront payment of $80 million, Novartis bought exclusive rights to an HDAC6 inhibitor, dubbed CKD-510, everywhere in the world except in Korea. Milestones can add up to $1.225 billion before counting tiered royalties, making it CKD’s largest contract ever, CEO Kim Young-Joo told Korea BioMed.
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