ZURICH (Reuters) – Novartis said on Thursday it had entered into an agreement to acquire U.S.-based neuroscience company Cadent for up to $770 million, gaining full rights to Cadent’s neuroscience portfolio.
“Upon the closing of the agreement, Cadent will receive a $210 million upfront payment and will be eligible for up to $560 million in milestone payments, for a total potential consideration of $770 million,” Cadent said in a separate statement.
(Reporting by Silke Koltrowitz; Editing by Riham Alkousaa)
