Struggling Cerulean Inks Deal Worth $1.2 Billion With Pharma Giant Novartis AG

Novartis has signed an agreement with Cerulean Pharma, worth a potential $1.2 billion depending on milestones met, to co-develop nanoparticle-drug conjugates (NDCs). The combination will see Cerulean create NDCs that specifically attack tumour cells, which could then be used in conjunction with Novartis’ compounds.

The deal is broken down into $5 million upfront whilst Novartis will fund five full-time employees to work on the development of NDCs at Cerulean.