By Andrea Figueras

Novartis agreed to acquire Blackstone Life Sciences' Anthos Therapeutics for up to $3.08 billion to boost its cardiovascular-drug pipeline.

The deal means the Swiss pharmaceutical company retakes control over a treatment candidate for blood clots it licensed to Anthos when the Boston-based firm was launched in 2019.

Privately held Anthos was formed by Blackstone Life Sciences and Novartis and it developed the drug, known as abelacimab, to reach late-stage clinical trials under a license from Novartis.

Novartis will pay $925 million upfront for Anthos and make additional payments of up to $2.15 billion upon achievement of specified regulatory and sales milestones, it said Tuesday.

Abelacimab is an investigational antibody designed to induce blood thinning by inhibiting one of the proteins involved in coagulation. The drug is currently being evaluated in three late-stage clinical trials, with a lead indication for prevention of stroke and systemic embolism in patients with irregular heart rhythm known as atrial fibrillation, Novartis said.

The drug, which is also being developed to prevent the recurrence of blood clots in patients with cancer, has the potential to be an important treatment option for the millions of patients, Anthos Chief Executive Bill Meury said.

Abelacimab got a fast-track designation from the U.S. Food and Drug Administration for the treatment of thrombosis associated with cancer in July 2022 and for the prevention of stroke and systemic embolism in patients with atrial fibrillation in September of that year, Novartis said.

"Now is the right time to bring abelacimab back into the Novartis [cardiovascular, renal and metabolism] pipeline," the company's cardiovascular, renal and metabolism development unit head David Soergel said.

The deal aligns with Novartis's growth strategy and its therapeutic area focus, leveraging the company's strength and expertise in the cardiovascular area, it said.

Novartis Chief Executive Vas Narasimhan recently told The Wall Street Journal the company would seek deals in its key therapeutic areas to fill a gap in its drug pipeline in the years to come.

The Anthos acquisition is expected to close in the first half, subject to customary closing conditions, the companies said.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

February 11, 2025 04:25 ET (09:25 GMT)

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