Aduro Biotech, a US-based developer of treatments for pancreatic cancer, has entered a collaboration agreement with pharmaceutical company Novartis to develop and commercialise a range of products based on Aduro’s technology.
As part of the agreement, Novartis has acquired a 2.7% equity stake in Aduro in return for a $25m equity investment. Novartis has committed to a further $50m investment in the future. Aduro is also set to receive an upfront payment of $200m and eligible for a further $500m…
