The executive crew at IFM has just racked up their second blockbuster-sized biotech sale in less than two years.
Not long after Bristol-Myers Squibb stepped up with $300 million in cash to ink a $2.3 billion-plus pact on the oncology applications of their work on NLRP3 in the summer of 2017, pharma giant Novartis has lined up rights to the flip side of that coin, paying IFM $310 million upfront in a $1.6 billion bid to demonstrate what NLRP3 can do on the anti-inflammatory side of things.
IFM is selling off a subsidiary group, IFM Tre, which they set up after making their deal with Bristol-Myers. And the team recently added IFM Due, spotlighting the cGAS-STING pathway, where they will continue their work.
That?s a significant upfront amount for an e