Novartis to Acquire Neuromuscular Specialist Avidity Biosciences for US$12 B
Lucy Haggerty
Abstract
In order to bolster its neuromuscular pipeline, Novartis has agreed to acquire Avidity Biosciences for a total consideration of US$12 B. Through the deal, Novartis picks up access to Avidity’s antibody oligonucleotide conjugates (AOCs™) platform as well as its first-in-disease pipeline for genetic neuromuscular diseases, including lead asset, delpacibart zotadirsen (del-zota), for the treatment of Duchenne muscular dystrophy. As part of the agreement, prior to closing, Avidity will separate its early-stage precision cardiology programmes into a new company known as SpinCo. The takeover marks yet another neuroscience-focused takeover by Novartis as it looks to strengthen its presence in the competitive field.
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