OKC pharmaceutical firm acquired in $665 million deal
By Don Mecoy
Copyright © 2016, The Oklahoma Publishing Company
A global pharmaceutical company will pay up to $665 million for an Oklahoma City research firm that recently completed a large trial of a drug that treats pain among those with sickle cell disease.
Novartis on Monday announced it has acquired Selexys Pharmaceuticals Corp., a Oklahoma City company specializing in development of therapeutics in certain hematologic and inflammatory disorders.
In 2012, Novartis obtained the exclusive right to acquire Selexys and the drug SelG1. Novartis said it exercised rights to buy the company after seeing results from a large trial into a drug to treat pain among those with sickle cell disease.
Terms of the deal could total up to $665 million in upfront, acquisition and milestone payments.
Dr. Scott Rollins, former CEO of Selexys Pharmaceuticals, said, “the acquisition of Selexys by Novartis represents an important step in the continued development of SelG1, a novel, potential first-in-class therapy for patients with this underserved life-threatening disease.”