Announced
Completed
Financials
Tags
Biotechnology
Friendly
Acquisition
Majority
Private
Cross Border
United States
gene therapy
Completed
Single Bidder
Private Equity
Synopsis
Novartis, a Swiss multinational pharmaceutical company, completed the acquisition of Vedere Bio, a developer of cutting-edge gene therapy products, for $280m, of which $150m Vedere Bio received upfront and will be eligible for up to $130m in milestone payments. "The medical need for new therapies to treat blindness is unambiguous. Vedere Bio's innovative technologies expand the potential for gene therapy to improve the lives of patients facing vision loss due to photoreceptor death attributable to a number of prevalent eye diseases," Jay Bradner, Novartis President of Institutes for BioMedical Research.
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