Novartis Acquires Avidity Biosciences
Novartis has entered a $12 billion definitive merger agreement to acquire Avidity Biosciences, enhancing its RNA therapeutics pipeline for rare neuromuscular diseases.
The acquisition follows 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.
Novartis aims to develop Avidity's programs to change the trajectory of diseases for patients, leveraging the Avidity team's expertise in delivering RNA therapeutics to muscle tissue.
Author's summary: Novartis acquires Avidity Biosciences for $12 billion.