Novartis acquires a small biotech and its trio of brain drugs

Novartis is building out its pipeline of experimental brain drugs, announcing Thursday plans to acquire a privately held biotech focused on neuroscience.

For $210 million up front, and as much as $560 million in milestone payments, Novartis will take control of Cambridge, Massachusetts-based Cadent Therapeutics and its three clinical-stage drugs. The companies expect their deal to close early next year.