Novartis to Acquire Avidity for $12B
Novartis is acquiring Avidity Biosciences for approximately $12 billion, bolstering its neuroscience pipeline with three late-stage programs.
Avidity, headquartered in San Diego, is developing a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs) for serious genetic neuromuscular diseases.
The acquisition adds Avidity's DMD, DM1, and FSHD programs to Novartis' portfolio, while cardiology programs and collaborations will be spun out into a new public company.
The AOC approach enables delivery of RNA to muscle tissue via TfR1 mAb, with the goal of enabling modulation of the genetic mechanism of disease.
Author's summary: Novartis acquires Avidity for $12B to boost neuroscience pipeline.
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