STAT+: Novartis to buy kidney-focused biotech built around Nobel-winning discovery for $800 million
Novartis is buying Regulus for $800 million, picking up the biotech's experimental kidney drug that's based off a Nobel-winning discovery
Novartis said Wednesday it would buy Regulus Therapeutics and its experimental kidney drug for $800 million upfront.
The immediate payout is more than triple Regulus’s current market cap. Novartis could pay another $900 million depending on whether the drug achieves an unspecified regulatory milestone.
The deal could provide a bit of hope for other investors in small biotechs, who have watched stock prices plummet in recent years and are hoping that larger companies could swoop in and buy them for something close to their original valuations.
