Novartis Acquires Avidity Biosciences for $12 Billion
Novartis has agreed to acquire Avidity Biosciences in a $12 billion deal, aiming to accelerate the development of late-stage treatments for muscular dystrophy.
The acquisition focuses on Avidity's antibody-oligonucleotide conjugate (AOC) platform, which attaches a small piece of RNA to an antibody, targeting specific cells to deliver the oligonucleotide and modulate genetic activity.
The core of the acquisition is Avidity’s innovative technology.
- Acquisition worth: $12 billion
- Goal: Accelerate 3 late-stage muscular dystrophy treatments toward approval
Author's summary: Novartis acquires Avidity for $12 billion to develop muscular dystrophy treatments.
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