Company founded by ex-Novartis execs inks $477M in-license deal
28 Apr 2023
License out/inIND
Aditum Bio, the biotech fund launched by two former Novartis execs, announced that it formed a new company focused on developing treatments for immunological disorders, including an early-stage therapy it’s licensing from Daewoong Pharmaceutical.
According to Daewoong’s corresponding announcement Thursday night, Vitalli Bio plans to make an upfront payment of $10 million to the South Korean drugmaker for exclusive development and commercialization rights to autoimmune disease drug candidate DWP213388, a BTK and ITK-targeting candidate that received IND clearance from the FDA last August.
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Source: EndPoints
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