Swiss pharmaceutical giant Novartis has agreed to acquire Anthos Therapeutics, a biopharma firm majority-owned by Blackstone’s drug development unit, for up to $3.1 billion, bolstering its cardiovascular business. The acquisition aligns with Novartis’ strategy to strengthen its presence in cardiovascular therapies, particularly as its best-selling heart failure drug, Entresto, faces patent expiration this year.
Founded in 2019 by Blackstone’s Life Sciences business and Novartis, Anthos Therapeutics focuses on developing abelacimab, a promising treatment designed to prevent strokes and blood clots. The deal marks a culmination of a significant development partnership between Novartis, a global pharmaceutical leader, and Blackstone, a private equity firm, showcasing an emerging funding model for drug development.
Novartis will pay $925 million upfront, with potential additional payments of up to $2.15 billion contingent upon successful development milestones. This acquisition represents the largest sale to date of a majority-owned company by Blackstone Life Sciences.
Abelacimab belongs to a new class of anticoagulants known as factor XI inhibitors. These drugs aim to compete with leading blood thinners like Eliquis (Bristol-Myers Squibb and Pfizer) and Xarelto (Johnson & Johnson and Bayer), both billion-dollar sellers. The market for factor XI inhibitors is expanding, with other industry players such as Bristol-Myers Squibb and Merck also advancing their own candidates.
The acquisition is expected to close in the first half of 2025, marking a significant step for Novartis as it continues to focus on cardiovascular therapies. The deal also reflects Blackstone’s growing influence in the biotech space, particularly in helping to develop and commercialize promising new treatments.
