PTC Therapeutics announced on December 2, 2024, the signing of an exclusive global license and collaboration agreement with Novartis Pharmaceuticals Corporation for its PTC518 Huntington's disease program. Under the terms of the agreement, PTC will receive an upfront payment of $1.0 billion in cash at closing.
The agreement also includes eligibility for PTC to receive up to $1.9 billion in development, regulatory, and sales milestones. Furthermore, PTC will share profits in the U.S. on a 40/60 basis (40% for PTC) and receive tiered double-digit royalties on ex-U.S. net sales.
Novartis will assume responsibility for PTC518's development, manufacturing, and commercialization following the completion of the ongoing placebo-controlled portion of the PIVOT-HD study, which is expected in the first half of 2025. This collaboration combines PTC's expertise in small molecule splicing therapies with Novartis's global development and commercialization capabilities in neuroscience.
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