To boost its late-stage neuroscience pipeline, Novartis has completed its $12-billion acquisition of Avidity Biosciences, a bio/pharmaceutical company developing RNA therapeutics. The deal was announced in October 2025. 

Avidity is developing RNA therapeutics and antibody oligonucleotide conjugates (AOCs) for treating rare genetic neuromuscular diseases. The AOC platform combines the tissue specificity of monoclonal antibodies with oligonucleotide payloads to target delivery to previously hard-to-reach muscle cells, according to information from Novartis.   

The acquisition provides Novartis with Avidity’s differentiated muscle-directed AOC platform and three late-stage programs: (1) delpacibart etedesiran for treating myotonic dystrophy Type 1, a rare progressive neuromuscular disorder; (2) delpacibart braxlosiran for treating facioscapulohumeral muscular dystrophy, a rare hereditary disorder causing loss of muscle function and progressive disability; and (3) delpacibart zotadirsen for treating Duchenne muscular dystrophy, an early-onset disease marked by progressive muscle damage and reduced life expectancy.   

Novartis completed the acquisition of Avidity through the merger of its indirect wholly owned subsidiary, Ajax Acquisition Sub, Inc., with and into Avidity. As a result of the merger, holders of Avidity common stock became entitled to receive $72.00 per share in cash, valuing the company at approximately $12 billion on a fully diluted basis and representing an enterprise value of approximately $11 billion. With the completion of the acquisition, Avidity is now an indirect, wholly owned subsidiary of Novartis. 

Source: Novartis