Novartis said it is acquiring Avidity Biosciences for approximately $12 billion, the companies said Sunday, in a deal designed to bolster the buyer’s neuroscience pipeline with three late-stage programs.
Headquartered in San Diego, Avidity is developing a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs
) for what it calls serious genetic neuromuscular diseases.
The AOC approach has enabled Avidity—and will allow Novartis, if the sale goes through—to deliver RNA to muscle tissue via TfR1 mAb, with the goal of enabling modulation of the genetic mechanism of disease.
“Our goal is to be able to overcome one of the challenges around delivery of oligos. One of the natural places you go to is muscle because there are a whole range of rare genetic diseases which are ideal for an oligo approach,” Avidity president and CEO Sarah Boyce told GEN in 2021.
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