Novartis Buying VC-Backed Corthera
Novartis has agreed to buy Corthera Inc., a San Mateo, Calif.-based drug company whose lead candidate is a potential treatment option for patients with acute decompensated heart failure. The deal includes a $120 million up-front payment, plus up to $500 million in milestone payments. Corthera has raised nearly $70 million in VC funding since 2003, from Domain Associates, Kleiner Perkins Caufield & Byers, Caxton Advantage Life Science Fund and Sears Capital Management.
23 December 2009•4 mins read
