DATA GRAPHICS | Data Byte
But partnership lands fourth on overall upfront payment
By Meredith Durkin Wolfe, Director of Research
December 7, 2024 1:43 AM UTC
The $1 billion that Novartis will pay PTC to gain rights to the biotech’s Huntington disease candidate has tied the largest cash upfront payment to license a single program from a biotech, making it the fifth such deal with an upfront payment of at least $1 billion since BioCentury began tracking these data in 2009.
But the deal between Novartis AG (SIX:NVS; NYSE:NOVN) and PTC Therapeutics Inc. (NASDAQ:PTCT) for PTC518 — a therapy that modulates pre-mRNA splicing to correct repeats in the HTT gene that is in Phase II testing — ties for fourth place among deals in this group when tallying total upfront payments including equity components…
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- Source: https://www.biocentury.com/article/654391/at-1b-ptc-novartis-deal-ties-record-for-cash-up-front