Novartis Pharmaceuticals signs deal worth a possible $300m to acquire the lead drug asset of Sideris Pharmaceuticals for the treatment of transfusion-related iron overload; concurrently, Sideris raises $32m series A funding.

University of Florida spin-out Sideris Pharmaceuticals, a US-based biopharmaceutical company, has completed a $32m series A round led by MPM Capital.

Joining the life science-focused venture firm in participation were Hatteras Venture Partners and Osage University Partners, a venture fund which represents over 60 US universities and research institutes.

The life sciences firm was spun out from Florida earlier in the year, supported by a seed round worth $599k. It is developing therapeutics for the treatment of transfusion-related iron overload…