PTC Therapeutics signs $1B upfront license deal with Novartis for PTC518 HD program

PTC THERAPEUTICS, INC.

PTC receives $1.0B upfront; eligible for up to $1.9B in development, regulatory and sales milestones.
PTC will receive 40% share of U.S. profits/losses and tiered double-digit royalties on ex-U.S. sales.
Novartis will assume global development, manufacturing and commercialization after placebo-controlled portion of PIVOT-HD trial.
Transaction expected to close in Q1 2025, subject to regulatory clearance and customary conditions.
PTC intends to use proceeds to expand splicing platform and support commercial/development portfolio.

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