π° Novartis Acquires Anthos Therapeutics for Up to $3.1 Billion to Boost Cardiovascular Pipeline
Deal Secures Late-Stage Factor XI Inhibitor Abelacimab, Marking a Milestone for Private Equity Funding Model
The Swiss pharmaceutical giant Novartis has reached an agreement to acquire Anthos Therapeutics, a biopharmaceutical firm majority-owned by the life sciences unit of Blackstone, for a total value of up to $3.1 billion. The transaction is expected to conclude in the first half of this year.
Novartis will pay $925 million upfront, with contingent payments potentially reaching an additional $2.15 billion upon the achievement of specific development milestones. Blackstone confirmed that this represents the largest sale to date of a majority-owned company originating from its Life Sciences business.
Anthos was co-founded by Novartis and Blackstone’s Life Sciences business in 2019 specifically to develop and commercialize abelacimab, an investigational therapy aimed at preventing strokes and the recurrence of blood clots.
The acquisition underscores Novartis’s continued commitment to cardiovascular therapies, one of its five key focus areas, as its top-selling heart failure drug, Entresto, is set to lose patent protection this year. Furthermore, the deal concludes a notable partnership between a major drug developer and a private equity firm, highlighting a successful application of an emerging funding model in the biopharma industry.
Abelacimab belongs to a novel class of Factor XI inhibitors. These drugs are designed to compete with established, multi-billion dollar blood thinners currently marketed by companies like Bristol Myers-Squibb/Pfizer (Eliquis) and Johnson & Johnson/Bayer (Xarelto).
Anthos is currently conducting several Phase 3 clinical studies for abelacimab, with data anticipated in the second half of 2026. Novartis confirmed that it already held a minor equity interest in Anthos prior to the agreement. The Factor XI inhibitor class is also a target for competitors, with Bristol-Myers Squibb/Johnson & Johnson advancing milvexian and Merck & Co. progressing a mid-stage candidate.
