Novartis Enters $12 Billion Definitive Merger Agreement to Acquire Avidity Biosciences
Novartis acquires Avidity Biosciences to enhance its RNA therapeutics pipeline, targeting rare neuromuscular diseases with innovative therapies.
Novartis will acquire Avidity Biosciences in a newly announced definitive merger agreement, 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 - Vas Narasimhan, CEO of Novartis.
The acquisition aims to develop Avidity's programs to change the trajectory of diseases for patients, with Novartis looking forward to utilizing Avidity's robust programs and industry-leading delivery of RNA therapeutics to muscle tissue.
Author's summary: Novartis acquires Avidity Biosciences for $12 billion.
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