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Novartis To Acquire Protez Pharma

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Novartis plans to acquire Protez Pharmaceuticals for as much as $400 million. Protez is a privately held biotechnology company based in Malvern, PA. Its lead drug candidate, PZ-601, is an injectable antibiotic in Phase II development for the potential treatment of drug-resistant staph infections, known as MRSA, and other hospital infections. Novartis would acquire licensing rights to the drug in North America and Europe.
   
“We believe the growing presence of Novartis in the specialty field of hospital infections provides Protez the support required to fully execute its vision, advance its product pipeline and positively impact human health,” said Protez chief executive officer, Christopher Cashman.
   
As part of the transaction terms, Novartis would pay $100 million upfront and as much as $300 million in milestone payments. The company would run as a stand-alone unit of Novartis, which has its U.S. pharmaceuticals headquarters in East Hanover, NJ.

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