BROOMFIELD, Colo.--(BUSINESS WIRE)--ARCA biopharma, Inc. (Nasdaq: ABIO), a biopharmaceutical company developing genetically-targeted therapies for cardiovascular diseases, today announced that it has entered into an agreement with Novartis pursuant to which Novartis is acquiring global patent rights to an undisclosed molecular target. ARCA will receive an upfront payment of $2.0 million and is eligible to receive clinical, regulatory and commercial milestones totaling $17.5 million. Additional terms of the transaction were not disclosed.
