(RTTNews) - Biopharmaceutical company PTC Therapeutics, Inc. (PTCT) announced Monday the signing of an exclusive global license and collaboration agreement with Novartis Pharmaceuticals Corp., a subsidiary of Novartis AG (NVS), for its PTC518 Huntington's disease program, which includes related molecules.
Under the agreement, PTC will receive an upfront payment of $1.0 billion, up to $1.9 billion in development, regulatory and sales milestones, a profit share in the U.S., and double-digit tiered royalties on ex-U.S. sales.
PTC518 was discovered from PTC's validated splicing platform and is currently being studied in the ongoing Phase 2 PIVOT-HD trial.
Novartis will assume responsibility for PTC518's development, manufacturing and commercialization, following the completion of the on-going placebo-controlled portion of PIVOT-HD, which is expected to occur in the first half of 2025.
The companies will share U.S. profits and losses, on a 40/60 basis (40% PTC and 60% Novartis).
The closing of the transaction is subject to customary closing conditions, including regulatory clearance. The parties anticipate that the agreement will close in the first quarter of 2025.
12/2/2024 7:05:22 AM Northland Power Appoints Christine Healy As President And CEO, Effective Feb. 05, 2025 [NPI.TO]
Northland Power Appoints Christine Healy As President And CEO
Northland Power Inc. (NPI.TO) announced Monday that the Board of Directors has appointed energy transition leader Christine Healy as President and Chief Executive Officer, effective February 5, 2025. She will be based at Northland's headquarters in Toronto.
In addition to serving as President and CEO, Healy will also be appointed as a Director of the Company, subject to confirmation at the next Annual General Meeting of shareholders in 2025.
Healy brings in over 20 years of experience in managing multi-billion-dollar businesses, a wealth of expertise in mergers and acquisitions, as well as global leadership in sustainability and energy transition.
Healy joins Northland from AtkinsRéalis, where she served as President of Asia, the Middle East and Australia. Prior to that, she held senior executive roles at TotalEnergies for more than five years, including Senior Vice President of Carbon Neutrality and Continental Europe.
Healy also served as President & CEO of Total E&P Canada and has also held senior positions as Chief Strategy Officer and General Counsel at Maersk Oil and Gas and Vice President of North America Business Development at Statoil (now Equinor).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
