Novartis and Eli Lilly are exiting the neurological disease therapy developer in an acquisition that will involve $52.5m upfront and up to $250m in milestone payments.
Biopharmaceutical company Jazz Pharmaceuticals acquired Cavion, a US-based neurological disease drug developer backed by pharmaceutical firms Novartis and Eli Lilly, on Monday for up to $313m.
The company’s shareholders received $52.5m upfront and are in line for up to $250m more in the form of clinical, regulatory and commercial milestone payments. It is merging with an existing Jazz subsidiary.
Founded in 2006 as Tau Therepautics, Cavion is working on treatments for rare and chronic neurological diseases that are intended to…
