Ascent Therapeutics Strikes Deal with Novartis

Ascent Therapeutics Inc., a Cambridge, Mass.-based developer of GPCR modulators, has entered into a licensing option agreement through the Novartis Option Fund. The deal includes an upfront fee and potential milestones totaling more than $200 million. Ascent announced late last month that it had raised $19 million in Series A funding from Novartis Option Fund, Healthcare Ventures and TVM Capital.

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