Cadent Therapeutics

History

2020: Novartis purchased Cadent Therapeutics for $770 million

In the middle of December, 2020 Novartis announced acquisition of neurobiological company Cadent Therapeutics. It is reported that the American developer of remedies for cognitive frustration and frustration of mood will cost the buyer $770 million.

At the same time Novartis will pay in advance only $210 million, however Cadent will have the right to additional payments at the rate to $560 million after achievement of certain results. Cadent develops schizophrenia medicine and already cooperated with Novartis concerning production of medicines for treatment of a persistent depression.

Novartis purchased Cadent Therapeutics for $770 million

Within acquisition pass two new programs into a portfolio of neurobiological researches of Novartis: one on treatment of schizophrenia, and another on treatment of motive frustration. The agreement also includes the redemption of all runtime royalty fees for MIJ821 - medicine for treatment of a depression which is at a development stage since 2015.

We aim to change life of the patients suffering from serious psychoneurological frustration with the minimum opportunities of treatment, - the president of Institute of biomedical researches of Novartis (NIBR) Jay Bradner told. - Acquisition of Cadent is result of long-term cooperation and the general ambitions in development of the new neuropsychiatric drugs directed to the disease prime cause.

In particular, new methods of treatment are necessary for elimination of negative and cognitive symptoms of schizophrenia which considerably affect capability of the patient to maintain the relations and to function fully in society. The program for development of medicine for treatment of schizophrenia, CAD-9303 included in acquisition, can potentially help a huge number of patients.^[1]

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