Protara Completes $8.75 Million Novex Asset Purchase

The Tip Desk · November 6, 2026 · 2 min read

Protara bought Novex’s manufacturing-related assets to bring TARA-002 production in-house ahead of a potential commercial launch.

Protara Therapeutics, Inc. (TARA) completed an $8.75 million asset purchase of Novex Innovations, LLC, taking manufacturing in-house and securing dedicated capacity ahead of a potential commercial launch of its investigational cell therapy.

The clinical-stage biotechnology company said the acquisition was intended to support late-stage clinical trials and a future launch of TARA-002 in lymphatic malformations (LMs) and non-muscle invasive bladder cancer (NMIBC).

“We are excited to bring this manufacturing capability in-house as we advance our late-stage clinical trials and prepare to launch TARA-002 in lymphatic malformations (LMs) and NMIBC,” Chief Executive Officer Jesse Shefferman said.

Protara has been advancing TARA-002 on two late-stage tracks. In LMs, the company intends to submit a Biologics License Application in the second half of 2027 based on the pivotal STARBORN-1 trial, after Breakthrough Therapy and Fast Track designations and a planned regulatory update in the first half of 2026. It also expects to complete enrollment of the BCG-Unresponsive registrational cohort of the ADVANCED-2 trial in NMIBC in the second half of 2026.

Interim ADVANCED-2 data reported in February showed a 68% complete response rate at six months in BCG-Unresponsive patients, with no Grade 3 or greater treatment-related adverse events. The company had received Breakthrough Therapy and Fast Track designations for TARA-002 in LMs and said a regulatory update was expected in the first half of 2026.

Cash, cash equivalents and investments were approximately $162 million as of June 30, 2026, which Protara said was expected to support planned operations into 2028. The $8.75 million asset purchase sits against that cash position as the company moves manufacturing in-house while it continues to enroll registrational cohorts and prepares a BLA timeline for TARA-002 in LMs.