Novartis to pay $1 billion upfront to license Huntington’s drug from PTC

LONDON — Novartis is paying $1 billion upfront in a licensing deal for an experimental Huntington’s disease treatment from PTC Therapeutics, the companies said Monday.

The agreement also includes another $1.9 billion in possible payments if certain development, regulatory, and commercial milestones are hit.

“This agreement with PTC is intended to bolster our neuroscience pipeline and reflects our strategic focus and commitment to explore new and potentially transformative approaches for neurodegenerative diseases with high unmet needs,” Vas Narasimhan, the CEO of Novartis, said in a statement.

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