Feb. 24 Quick Takes: Novartis returns NASH program’s rights to Pliant

Novartis AG (SIX:NOVN; NYSE:NVS) is terminating a 2019 partnership with Pliant Pharmaceuticals Inc. (NASDAQ:PLRX) and ceasing development of PLN-1474 to treat liver fibrosis associated with non-alcoholic steatohepatitis. Pliant will regain rights to the inhibitor of integrin α(v)ß(1), which had reached Phase I testing. Novartis paid Pliant $50 million up front for rights to PLN-1474 and up to three additional compounds; Pliant received a further $29 million in contingent payments during the deal’s lifespan.

ObsEva S.A. (NASDAQ:OBSV; SIX:OBSN) intends to delist from NASDAQ, downsize its U.S. management team and consolidate operations in Switzerland. CEO Brian O’Callaghan has stepped down as CEO, with CFO Will Brown filling his role on an interim basis until a Geneva-based executive takes the position permanently. Also departing are Chief Commercial Officer Clive Bertram, Chief Clinical Officer Brandi Howard and Chief Transformation Officer Luigi Marro...