Novartis Acquires Avidity Biosciences for $12bn
Novartis has signed an agreement to acquire all outstanding shares of US-based Avidity Biosciences for $12bn in cash.
The acquisition will integrate Avidity's late-stage neuroscience assets into Novartis, representing an enterprise value of close to $11bn at the expected closing date.
About Avidity Biosciences
Avidity Biosciences is focused on RNA therapeutics for muscle-targeted delivery, with a focus on antibody oligonucleotide conjugates (AOCs) for serious genetic neuromuscular diseases.
Deal Details
- The deal will proceed after Avidity's early-stage precision cardiology programmes are separated.
- The acquisition is expected to close at an enterprise value of close to $11bn.
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Author's summary: Novartis acquires Avidity Biosciences for $12bn to integrate its neuroscience assets.
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