Amsterdam-based Calypso Biotech to be Acquired by Swiss Medical company Novartis. Calypso stockholders will get $250 million (about €228 million) at close upon the conclusion of the transaction, with a further $175 million (about €160 million) payable upon the achievement of specific objectives.
Alain Vicari, Calypso’s Chief Executive Officer and co-founder, says, “We are excited about this transaction with Novartis, a company with a relentless commitment to developing innovative therapies for autoimmune conditions. As part of the Novartis portfolio, CALY-002 is in the best position to be developed effectively to address unmet medical needs in multiple indications promptly.”
Calypso is a Merck spin-out company that specialises in IL-15 biology and conducts research and development on monoclonal antibodies for a range of autoimmune diseases. In many chronic autoimmune disorders, IL-15 represents a broad, unexplored immunological axis that controls barrier function and downstream immune cascades.
Bernard Coulie, Chairman of Calypso, says, “The transaction with Novartis constitutes the high point in the development path of CALY-002 for the team. Calypso has established a significantly de-risked profile for CALY-002 as a potential best-in-class therapeutic anti-IL-15 antibody.”
Novartis is a firm that develops cutting-edge medications to enhance and prolong human life. According to Novartis, their medications are used by more than 250 million people globally and have a major influence on the healthcare sector.
Richard Siegel, Head of Immunology Research at Novartis, comments, “Novartis is committed to bringing innovative treatment options forward for patients with immunological diseases. We’re thrilled to add Calypso’s potential best-in-class antibody to our Immunology pipeline and explore it in a spectrum of autoimmune indications.”
Novartis is a cutting-edge pharmaceutical firm. reimagining medicine every day to prolong and improve people’s lives, empowering patients, healthcare providers, and society at large in the face of serious illness. Over 250 million people globally are able to access our medications.
About Calypso Biotech BV
With a specialisation in IL-15 biology, Calypso Biotech BV is a private biotechnology firm dedicated to the investigation and creation of innovative biologics to meet unmet medical needs in autoimmune and inflammatory illnesses. Together with its widespread impact on inflammation, IL-15 regulates immunological pathways that are vital to the development and maintenance of disease (known as “disease memory”), as well as tissue damage.