Business
Avidity Biosciences Enters into Agreement to be Acquired by Novartis AG
Novartis to acquire Avidity for USD 72.00 per share in cash for total equity value of approximately USD 12.0 billion Avidity expects to separate its
About this update from Atrium Therapeutics, Inc.
[{"type":"text","content":"\n Novartis to acquire Avidity \n for USD 72.00 per share in cash for total equity value of approximately USD 12.0 billion\n \n \n Avidity expects to separate its early-stage precision cardiology programs\n into a new company (\"SpinCo\")\n \n \n Closing expected in 1H2026 subject to completion of the separation of SpinCo from Avidity and other customary closing conditions\n \n \n SAN DIEGO, Oct. 26, 2025 /PRNewswire/ -- Avidity Biosciences, Inc. (\"Avidity\") (Nasdaq: RNA), a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (\"AOCs™\") to profoundly improve people's lives, today announced that it has entered into a definitive merger agreement with Novartis AG (\"Novartis\") which has been unanimously approved by the Boards of Directors of both companies. The acquisition will follow the separation of Avidity's early-stage precision cardiology programs into SpinCo, which is expected to be a publicly traded company. SpinCo will be led by Kathleen Gallagher, currently Avidity's chief program officer, as chief executive officer. Sarah Boyce, currently Avidity's chief executive officer, will serve as chair of the board.\n \n \n \n \n \n \n \n Pursuant to the terms of the merger agreement, holders of Avidity common stock will receive USD 72.00 per share in cash at closing, representing a premium of approximately 46% over Avidity's closing share price on October 24, 2025 of USD 49.15 and approximately 62% over Avidity's October 24 closing 30-day volume weighted average price of USD 44.42, and valuing the company at approximately USD 12.0 billion on a fully diluted basis. Avidity stockholders will also receive consideration for the separation of the SpinCo business.\n \"Avidity has expanded the possibilities of what RNA therapeutics can deliver to patients by advancing innovative science and creating an organization with a strong commitment to providing access to our potential medicines. We are confident that this transaction with Novartis maximizes value for our investors and will support the global expansion of our neuroscience pipeline,\" said Sarah Boyce, president and chief executive officer of Avidity. \"I am incredibly proud of what we have created in close collaboration with the patient and clinical communities we serve, and I want to thank them and the ...