Pharma BD Deal Intelligence
Complete pipeline washout: sole asset EMA401 killed by liver toxicity and lack of efficacy, deal delivered zero commercial return
Full analysis, sources & comparables →David Epstein, head of Novartis Pharmaceuticals, framed EMA401 as a novel, differentiated treatment that could address a substantial unmet need where 40% of…
Coverage characterized the Spinifex deal as a strategic strengthening of Novartis's pain pipeline with a peripherally-acting candidate that promised a…
Novartis subsequently terminated both Phase 2b trials in PHN and painful diabetic neuropathy after liver toxicity emerged in chronic preclinical studies,…
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Novartis acquired Spinifex for $200M upfront plus undisclosed clinical development and regulatory milestone payments (estimated up-to ~$500M, total ~$700M). EMA401 was a peripheral AT2R antagonist for neuropathic pain. Novartis later discontinued EMA401 development.
Complete pipeline washout: sole asset EMA401 killed by liver toxicity and lack of efficacy, deal delivered zero commercial return
Assessment window: 10yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Novartis AG / Spinifex Pharmaceuticals, Inc. (this deal) | 2015 | $700M | 16 |
| Novartis AG / Advanced Accelerator Applications S.A. | 2017 | $3.9B | 98 |
| Novartis AG / Endocyte, Inc. | 2018 | $2.1B | 96 |
| Novartis AG / Lek Pharmaceuticals d.d. | 2002 | $876M | 88 |
| Novartis AG / GlaxoSmithKline plc | 2014 | $16.0B | 81 |
| Novartis AG / PTC Therapeutics Inc. | 2024 | $2.9B | 80 |
| Novartis AG / Chinook Therapeutics Inc. | 2023 | $3.5B | 78 |
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