Novartis signs deal that could lead to acquisition of Zurich start-up Cellerys

Logo is seen at factory of Novartis in Stein, Switzerland
Novartis's logo is seen at the cell and gene therapy factory of the Swiss drugmaker in Stein, Switzerland, November 28, 2019. REUTERS/Arnd Wiegmann/File Photo

ZURICH, June 1 (Reuters) - Novartis (NOVN.S) has signed a collaboration agreement and option to acquire Cellerys, a Zurich-based startup conducting research on a therapy to fight multiple sclerosis (MS), the Swiss drugmaker said on Tuesday.

"Under the agreement, Novartis will support the development of the CLS12311 therapy currently in Phase 2" study, the Basel-based drugmaker said in a statement. "Novartis will have the option to acquire Cellerys upon completion of a Phase 2 trial in the coming years."

Cellerys was founded in 2015 as a University of Zurich spin-out by MS researchers. No financial details for the transaction were given by Novartis.

Reporting by John Miller, editing by John Revill

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