By Fineline Cube 
Novartis (NYSE: NVS) announced an agreement to acquire San Diego-based biotech Avidity Biosciences for USD 12 billion. The deal grants Novartis access to Avidity’s innovative RNA therapeutics and its pipeline of antibody oligonucleotide conjugates (AOCs) for rare diseases.
Deal Structure
Novartis will merge with an indirectly owned subsidiary, acquiring all of Avidity’s shares at USD 72 per share, a 46% premium on last week’s closing price. Prior to closing, Avidity will spin off its early-stage precision cardiology programs into a new subsidiary, SpinCo. The transaction requires regulatory approvals and is expected to close in the first half of 2026.
Focus of Acquisition
The acquisition centers on Avidity’s three Phase III AOCs for genetically defined neuromuscular disorders:
- Delpacibart zotadirsen (del-zota) for Duchenne muscular dystrophy (DMD) with exon 44 skipping mutations.
- Delpacibart etedesiran (del-desiran) for myotonic dystrophy type 1 (DM1), targeting the DMPK gene.
- Delpacibart braxlosiran (del-brax) for facioscapulohumeral muscular dystrophy (FSHD), targeting the DUX4 gene.
Platform and Potential
Novartis also gains Avidity’s proprietary platform for targeted RNA therapeutic delivery into muscle tissue via TfR1 monoclonal antibody. Avidity was the first to demonstrate successful RNA drug delivery into muscle tissue. Novartis views these products as multi-billion-dollar opportunities with potential launches before 2030.-Fineline Info & Tech