Novartis Buys Selexys in $665-Million Deal
Novartis has acquired Selexys Pharmaceuticals, an Oklahoma City, Oklahoma-based company specializing in therapeutics for hematologic and inflammatory disorders. Novartis exercised its right to acquire Selexys following favorable results of a Phase II trial for a sickle-cell-disease drug candidate, SelG1. The acquisition boosts Novartis’ hematology pipeline. Novartis obtained the exclusive right to acquire Selexys and SelG1 in 2012. Terms of the deal could total up to $665 million in upfront, acquisition, and milestone payments.
SelG1 is an anti-P-selectin antibody, that is being investigated for the reduction of vaso-occlusive pain crises in patients with sickle cell disease. Vaso-occlusive crises, or pain crises, occur episodically when sickle-shaped red blood cells block blood flow through blood vessels.