Spinifex Pharmaceuticals, a biopharmaceutical company founded by UniQuest to commercialise a treatment for chronic pain, has attracted a multi-million-dollar deal, one of the largest in Australian biotech history.

In June 2015, the company was acquired by Novartis International AG for an upfront cash payment of $US200 million (about $A260 million), plus undisclosed clinical development and regulatory milestone payments.