PTC Therapeutics Secures $2.9B Deal with Novartis for Huntington's Drug, $1B Upfront

Dec 2, 2024, 01:09 PM

PTC Therapeutics Inc. has entered into a significant licensing agreement with Novartis AG, focusing on the development of PTC518, an experimental drug for Huntington's disease. The deal, which could be worth up to $2.9 billion, includes an upfront payment of $1 billion to PTC Therapeutics. Under the terms, Novartis will share U.S. profits and losses with PTC Therapeutics on a 40/60 basis, with PTC receiving 40%. This collaboration marks Novartis's renewed interest in Huntington's disease treatments. The agreement also involves global licensing and collaboration for the drug's development, with Novartis taking the lead in further development efforts.