Cadent Therapeutics Enters Agreement to Be Acquired by Novartis

CAMBRIDGE, Mass., December 17, 2020 – Cadent Therapeutics, a privately held clinical stage biopharmaceutical company focused on the development of therapies for the treatment of cognitive, mood, and movement disorders, announced today that it has reached a definitive agreement with Novartis, under which Novartis will acquire all of the outstanding capital stock of Cadent Therapeutics. Upon the closing of the agreement, Cadent will receive a $210 million upfront payment and will be eligible for up to $560 million in milestone payments, for a total potential consideration of $770 million.

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