FRANKFURT, March 20 (Reuters) – Novartis said on Friday it agreed to acquire breast cancer drug candidate SNV4818 from Synnovation Therapeutics for $2 billion upfront and up to $1 billion contingent on further development achievements.
The experimental drug belongs to the class of selective PI3Kα inhibitors, a new approach for the treatment of a type of breast cancer known as HR positive/HER2 negative and potentially other solid tumours.
(Reporting by Ludwig Burger; Editing by Himani Sarkar)
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