Sideris Completes $32M Financing; Enters Agreement with Novartis

Sideris Pharmaceuticals, Inc., announced today that it has successfully completed a $32 million equity financing and entered an agreement with Novartis (NYSE:NVS).

As quoted in the press release:

This investment was led by MPM Capital, including MPM’s SunStates Fund. Also participating in this financing were Hatteras Venture Partners and Osage University Partners. Alongside the equity financing, Sideris entered into an agreement with Novartis Pharmaceuticals whereby Novartis has been granted an exclusive right to acquire Sideris and its lead asset, the iron-chelating candidate SP-420. Including upfront, acquisition and milestone payments, the agreement with Novartis could reach up to $300 million.

Read the full press release by Sideris Pharmaceuticals, Inc.