Kaye Scholer represented Novartis in a definitive agreement to acquire Protez Pharmaceuticals along with the rights in North America and Europe to PZ-601, a novel hospital antibiotic in clinical development. Under the terms of the agreement, Novartis agrees to fully acquire Protez for USD 100 million. Protez's owners are eligible for additional payments of up to USD 300 million, which are contingent upon clinical milestones, regulatory approval for PZ-601 and the achievement of commercialization targets.
The Kaye Scholer team was led by Adam Golden.
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