Novartis Acquires Avidity Biosciences
Novartis has entered a $12 billion definitive merger agreement to acquire Avidity Biosciences, enhancing its RNA therapeutics pipeline.
The acquisition targets rare neuromuscular diseases with innovative therapies. Prior to the agreement, Avidity separated its early-stage precision cardiology programs into a new publicly traded company, SpinCo.
"Avidity's pioneering AOC platform for RNA therapeutics and its late-stage assets bolster our commitment to delivering innovative, targeted and potentially first-in-class medicines to treat devastating, progressive neuromuscular diseases," said Vas Narasimhan, CEO of Novartis.
Novartis aims to develop Avidity's programs to change the trajectory of diseases for patients, leveraging the Avidity team's robust programs and industry-leading delivery of RNA therapeutics to muscle tissue.
Author's summary: Novartis acquires Avidity Biosciences for $12 billion.