Strategic Acquisition in Cardiovascular R&D

On 3 February 2025, Swiss pharma giant Novartis announced its agreement to acquire Anthos Therapeutics, a private biotech initially co-founded by Novartis and Blackstone’s Life Sciences unit. The deal is valued at up to $3.1 billion, including $925 million upfront and up to $2.15 billion tied to future development milestones.

Bolstering a Cardiovascular Portfolio Amid Patent Challenges

This acquisition is a strategic move by Novartis to reinforce its cardiovascular franchise, particularly as its blockbuster heart failure drug Entresto approaches patent expiry. Asset diversification with next‑generation therapies is essential for sustaining growth and mitigating revenue erosion.

Abelacimab: A New Anticoagulant Poised to Challenge Market Giants

At the heart of the deal is abelacimab, a novel factor XI inhibitor currently in Phase III trials. This therapeutic candidate aims to prevent strokes and recurrent blood clots, positioning itself as a potential alternative to established anticoagulants such as Eliquis and Xarelto.

A Landmark Pharma–Private Equity Collaboration

The acquisition signifies one of the most high-profile exits for Blackstone’s Life Sciences platform. Anthos was a unique venture backed by both Novartis and Blackstone since 2019, and this deal underscores a maturing model where private equity plays a pivotal role in advancing biopharma innovation.

What Lies Ahead

• Regulatory Reviews & Integration: The transaction is expected to close during H1 2025. Subsequent steps will involve integrating Anthos into Novartis’ R&D pipeline and streamlining development of abelacimab toward approval.
• Competitive Field: Other players—such as Bristol-Myers Squibb, Merck, and Bayer—are also developing competing factor XI inhibitors, heightening the stakes in the race for a next-generation anticoagulant.
• Clinical Upside: With Phase III data anticipated mid-2026, abelacimab could potentially address significant unmet needs in stroke prevention, especially if it offers improved safety or dosing benefits over current options.

As of 3 February 2025, Novartis has made a bold strategic play by acquiring Anthos Therapeutics, securing abelacimab as a promising addition to its cardiovascular portfolio. This move not only reflects the importance of late-stage assets in addressing patent cliffs but also highlights evolving collaborations between big pharma and private equity in driving innovation forward.