Novartis expands its immuno-oncology portfolio via M&A, partnerships
- Novartis has acquired Admune Therapeutics and entered into licensing agreements with two small companies---CA-based Xoma and Palobiofarma, which is a Spanish company---in an effort to expand its presence in immuno-oncology, Reuters reports.
- Novartis is the largest biopharma company in the world in terms of revenues and is in the process of expanding its presence in cancer immunotherapy.
- The Admune acquisition brings with it its IL-15 agonist program.
Novartis is strategically positioning itself via acquisitions and partnerships to have a greater presence in immuno-oncology, which the company is confident will generate tens of billions of dollars of sales. In addition to Admune's IL-15 agonst program, Novartis is also gaining access to Palobiofarma's adenosine receptor program and Xoma's TGF-beta inhibition program. Essentially, Novartis is coming at the immuno-oncology space from different angles and focusing on a variety of targets.
Novartis disclosed the broad terms of its $15 million partnership with Palobiofarma, which gives it exclusive global rights to develop, manufacture, and market Palobiofarma's adenosine-based cancer immunotherapies.