Novartis, a pharmaceutical company based in Switzerland, has agreed to a $3.1bn deal to acquire Anthos Therapeutics, a clinical-stage biopharmaceutical company founded by Blackstone Life Sciences and Novartis in 2019.
The purpose of the acquisition is to develop abelacimab, a treatment to prevent strokes and the recurrence of blood clots. Novartis kept a minority stake in the biotech company, however, under the agreement, will now pay $925 million upfront to acquire full ownership, with additional payments of up to $2.15bn contingent on achieving future milestones. The deal aligns with Novartis’ focus on cardiovascular therapies, one of the five medical areas it is focused on within its investment strategy, alongside immunology, neuroscience, solid tumours and haematology.
Abelacimab, an antibody treatment created for patients at high risk of blood clots, has been shown to perform better than current medicines in a mid-stage trial. Anthos is conducting three late-trials, with results expected in the second half of 2026 according to Blackstone. In July 2022, abelamicab received Fast Track Designation from the Food and Drug Administration for the treatment thrombosis associated with cancer before being granted Fast Track Designation in September 2022 for the prevention of strokes and systemic embolism in patients who have atrial fibrillation.
Blackstone Life Sciences is a private investment platform which invests across the life cycle of companies and products within the main life science sectors. Blackstone Life Sciences has invested $250 million in abelacimab’s clinical trials for patients at high risk of cardiovascular issues.
Expected to close in the first half of this year with Goldman Sachs & Co. LLC acting as lead financial advisor to Boston-based Anthos Therapeutics, the transaction is the largest sale of a majority-owned company for Blackstone Life Sciences and concludes a development partnership between a private equity firm and a major drug company. Blackstone Life Sciences, which currently has $12bn in assets under management, has also partnered with other large pharmaceutical companies, including a $300 million collaboration in 2022 with Sanofi, a French pharmaceutical company, in order to fund the development of treatment for blood cancer. It has also made deals to aid some smaller companies in finishing drug development.
In 2024, Blackstone Life Sciences announced it would invest up to $750 million in US biotech Moderna’s development of a new flu vaccine which is based on technology used in the creation of its Covid-19 vaccine. These investments in both large pharmaceutical companies and emerging biotech firms by Blackstone Life Sciences show how its expertise in building businesses can aid in bringing new medicine and medical technologies to market and improving outcomes for patients. Norvatis has a focus on smaller acquisitions of less than $5bn as part of its strategy and has completed 30 deals in the past year.
Overall, the acquisition of Anthos Therapeutics by Norvatis reinforces its commitment to cardiovascular innovation. If abelacimab is successful in late-trials, it promises great progress in treating patients at high risk of strokes and blood clots. For Blackstone Life Sciences, this deal highlights the increasingly pertinent role of private equity firms in aiding drug development.
Comments