PTC Therapeutics and Novartis Partner on $2.9 Billion Huntington's Disease Drug Deal with $1 Billion Upfront

Dec 2, 2024, 12:04 PM

PTC Therapeutics has entered into a global license and collaboration agreement with Novartis for the development of PTC518, an experimental drug targeting Huntington's disease. Under the terms of the deal, PTC Therapeutics will receive $1 billion in cash upfront. Additionally, the companies will share U.S. profits and losses on a 40/60 basis, with PTC receiving 40% and Novartis 60%. The total value of the agreement could reach up to $2.9 billion, contingent on milestone achievements. This collaboration represents a significant step in advancing the development of PTC518, which addresses a rare neurological disorder.