Lynn Durham, Stalicla CEO

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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