Novartis has agreed to acquire Avidity Biosciences, a San Diego-based biopharmaceutical company, for $12 billion in cash, representing a 46% premium over Avidity's closing share price on October 24, 2025. The acquisition will bring Avidity’s late-stage neuroscience programs into Novartis, including three potential first-in-class therapies for genetic neuromuscular diseases: delpacibart zotadirsen for Duchenne muscular dystrophy (DMD), delpacibart etedesiran for myotonic dystrophy type 1 (DM1), and delpacibart braxlosiran for facioscapulohumeral muscular dystrophy (FSHD).
Avidity’s proprietary Antibody Oligonucleotide Conjugates (AOCs™) platform enables targeted delivery of RNA therapeutics to muscle tissue, addressing previously unreachable genetic drivers of muscle-damaging conditions. The acquisition is expected to unlock multi-billion-dollar opportunities with planned product launches before 2030 and raise Novartis’ expected 2024-2029 sales CAGR from +5% to +6%.
Prior to closing, Avidity will separate its early-stage precision cardiology programs into a new company, SpinCo, which will be led by Kathleen Gallagher as CEO and Sarah Boyce as chair of the board. SpinCo will focus on rare genetic cardiomyopathies and is expected to begin trading as a new public company following the spin-off.
The transaction is subject to customary closing conditions, including regulatory approvals and Avidity stockholder approval, with closing expected in the first half of 2026. Until closing, Novartis and Avidity will operate independently.
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