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Novartis agrees Ziarco purchase

Swiss healthcare company Novartis has signed on the dotted line to pick up Ziarco, a UK-headquartered dermatological treatments developer. Novartis’ chief medical officer, Vasant Narasimhan, said he hopes the deal will lead to the development of a new treatment for eczema and will also grow the firm’s pipeline with the addition of a first-in-class oral H4 receptor. At the time the sources said the company could fetch in excess of USD 1.00 billion, some of which would be in an upfront payment while the rest would be through royalties after certain targets have been achieved, and had appointed Rothschild to advise on the process. The deal could provide an exit for Pfizer Venture Investments, Amgen Ventures, Lundbeckfond Ventures and BVF Partners. Source: Zephyr

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