(RTTNews) - Novartis AG (NVS), on Tuesday, announced that it has agreed to acquire privately held, clinical-stage biopharmaceutical company Anthos Therapeutics Inc. for up to $3.1 billion.
As part of the agreement terms, Novartis will make an upfront payment of $925 million upon closing of the transaction, and additional payments totaling up to $2.15 billion based on meeting certain regulatory and sales milestones. The deal is expected to be completed in the first half of 2025.
Anthos was launched by Blackstone Life Sciences and Novartis in 2019. As part of the launch, Novartis had licensed the global rights to develop and commercialize Abelacimab to Anthos in 2019.
With Novartis now acquiring Anthos, Abelacimab is being brought back into Novartis' pipeline, where it originally originated.
Abelacimab, an investigational anti-clotting drug classified as a factor XI inhibitor, is under phase III development.
Three phase III studies with Abelacimab are underway - one is for patients with atrial fibrillation at high risk for strokes or blood clots (LILAC-TIMI 76), and two are for cancer patients with blood clots (ASTER and MAGNOLIA). The results from these studies are expected in the second half of 2026.
NVS closed Monday's trading at $106.85, up 0.56%. In after-hours, the stock gained another 1.08% and was at $108.
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