Novartis offloads neurodevelopmental disorder asset to small Swiss biotech
A small Swiss biotech said it will buy a Novartis cocaine use disorder drug candidate for up to $270 million and will test it in a Phase III clinical trial.
The biotech, known as Stalicla, declined to disclose who is behind the financing, other than saying a non-dilutive partner will be announced in the coming weeks to support the late-stage program. CEO Lynn Durham told Endpoints News the biotech will consider testing the drug, known as mavoglurant, in additional neurodevelopmental disorders and substance use disorders.
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