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, following the separation of Avidity's 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.
According to Vas Narasimhan, CEO of Novartis, the Avidity team has built robust programs with industry-leading delivery of RNA therapeutics to muscle tissue, aiming to develop these programs to change the trajectory of diseases for patients.
Author's summary: Novartis acquires Avidity Biosciences for $12 billion.
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