LONDON, Nov 21 (APM) - Novartis on Monday said it is buying U.S.-based Selexys Pharmaceuticals in a deal worth up to $665 million, as the Swiss pharma expands its drugs pipeline to combat blood diseases.
Novartis exercised its right to acquire Selexys after a Phase II trial evaluating the Oklahoma City-based company's investigational medicine SelG1, aimed at reducing vaso-occlusive pain crises in patients with sickle cell disease (SCD), it said in a statement.
Such crises occur in adolescent and adult patients where sickled red blood cells obstruct circulation in blood vessels.
Head of Novartis Oncology Bruno Strigini said: "Sickle cell disease affects millions of people around the world and there are limited therapies available for treatment of vaso-occlusive pain crises, a very common complication of the disease."
SCD is a hereditary blood disorder characterised by sickle-shaped red blood cells. Novartis said it is a life-long disease with many forms that can range in clinical severity from asymptomatic to life-threatening.
Vaso-occlusive crises, or pain crises, are the major reason for healthcare encounters in SCD.
Novartis obtained the exclusive right to acquire Selexys and SelG1 in 2012.
Selexys is a privately-owned biopharmaceutical company based in Oklahoma City, Oklahoma. Novartis said it could pay a total of $665 million in upfront, acquisition and milestone payments.
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