Novartis: signs deal to develop Covid cell therapy
(CercleFinance.com) - Novartis said on Friday that it has signed an exclusive agreement with Mesoblast to further develop a cell therapy for acute respiratory distress syndrome, including that associated with Covid-19.
Under the license deal, Novartis will acquire the exclusive global rights to commercialise and manufacture Mesoblast's remestemcel-L for acute respiratory distress syndrome, an area which is currently largely unmet, with a mortality rate of approximately 40%.
As of now, the current standard of care includes prolonged intensive care treatment and mechanical ventilation.
In March, a trial including 12 patients with Covid-19 who were using mechanical ventilation was associated with an 83% survival rate.
The Swiss drugmaker said it will also obtain access to an Mesoblast's cell-therapy platform with a range of potential applications in severe respiratory conditions and beyond.
Novartis will make a 25 million dollar upfront payment and invest 25 million dollars in Mesoblast's capital, with additional payments and royalties depending on regulatory and commercial milestones.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Under the license deal, Novartis will acquire the exclusive global rights to commercialise and manufacture Mesoblast's remestemcel-L for acute respiratory distress syndrome, an area which is currently largely unmet, with a mortality rate of approximately 40%.
As of now, the current standard of care includes prolonged intensive care treatment and mechanical ventilation.
In March, a trial including 12 patients with Covid-19 who were using mechanical ventilation was associated with an 83% survival rate.
The Swiss drugmaker said it will also obtain access to an Mesoblast's cell-therapy platform with a range of potential applications in severe respiratory conditions and beyond.
Novartis will make a 25 million dollar upfront payment and invest 25 million dollars in Mesoblast's capital, with additional payments and royalties depending on regulatory and commercial milestones.
Copyright (c) 2020 CercleFinance.com. All rights reserved.