Novartis To Acquire Cadent Therapeutics

Novartis has entered an agreement to acquire Cadent Therapeutics, a Cambridge, Massachusetts based neuroscience company. The acquisition adds two new clinical stage programs to the Novartis neuroscience portfolio, one for schizophrenia and the other for movement disorders. The agreement also includes a buyout of milestones and royalties for MIJ821, a clinical stage molecule that Novartis licensed exclusively from Cadent in 2015. Novartis is actively developing MIJ821 for treatment resistant depression. Under the terms of the agreement, Novartis will acquire all of the outstanding capital stock of Cadent, in exchange for an upfront payment and milestone payments. Cadent and Novartis anticipate . . .