Ad hoc announcement pursuant to Art. 53 LR
Novartis today announced a definitive agreement to acquire Avidity Biosciences, Inc. (Nasdaq: RNA), a San Diego-based biopharmaceutical company pioneering Antibody Oligonucleotide Conjugates (AOCs™) for treating serious genetic neuromuscular diseases. The all-cash transaction, valued at approximately USD 12 billion, is expected to close in the first half of 2026, following the planned spin-off of Avidity’s early-stage precision cardiology programs into a new company (“SpinCo”).
The acquisition will expand Novartis’ neuroscience franchise with three late-stage programs addressing myotonic dystrophy type 1 (DM1), facioscapulohumeral muscular dystrophy (FSHD), and Duchenne muscular dystrophy (DMD) — all severe genetic disorders with limited or no disease-modifying therapies.
Avidity’s AOC platform, which combines the targeting ability of monoclonal antibodies with the precision of oligonucleotides, enables RNA-based therapies to be delivered directly to muscle cells — a major challenge in the field. This technology provides a foundation for first-in-disease treatments that target the root genetic causes of neuromuscular disorders.
“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 neuromuscular diseases,” said Vas Narasimhan, CEO of Novartis. “The Avidity team has built robust programs with industry-leading RNA delivery to muscle tissue, and we look forward to developing these programs to meaningfully change the trajectory of these diseases.”
The acquisition supports Novartis’ long-term neuroscience and xRNA strategy, aimed at expanding the company’s reach into genetic and RNA-based medicine. With potential product launches before 2030, the deal is projected to unlock multi-billion-dollar opportunities.
Novartis has raised its 2024–2029 sales CAGR guidance from +5% to +6%, underscoring the transaction’s expected contribution to sustained growth and shareholder value.
Under the terms of the merger:
Upon closing, Avidity’s late-stage programs will integrate into Novartis’ neuroscience portfolio, complementing its expertise in spinal muscular atrophy and genetic disease commercialization.
Avidity Biosciences is a clinical-stage biopharmaceutical company developing Antibody Oligonucleotide Conjugates (AOCs™) to treat serious diseases, particularly genetic neuromuscular disorders such as DM1, FSHD, and DMD. Its leading clinical programs—HARBOR™, FORTITUDE™, and EXPLORE44—are advancing through late-stage trials supported by translational and biomarker data.
Novartis is an innovative medicines company focused on reimagining medicine to improve and extend people’s lives. With a global reach to more than 300 million patients annually, Novartis combines scientific innovation with advanced data and digital capabilities to tackle the world’s most pressing health challenges.
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