Novartis giving $1.6 billion to get access to two cardio drugs
The deal involves an upfront payment to Iona and Akcea of $75 million plus a $100 million equity investment in Iona.
Novartis has also agreed to invest a further $50 million in either Ionis or Akcea within 18 months, as well as payments worth up to $1.4 billion should the drugs prove successful.
Both drugs aim to lower the level of cholesterol-carrying proteins in the blood and reduce the risk of certain cardiovascular diseases developing. ■