Novartis AG has agreed to acquire Avidity Biosciences Inc. for $12.0 billion, with Avidity’s precision cardiology programs being spun off into a new entity called SpinCo. SpinCo will be led by Kathleen Gallagher as CEO and will retain rights to Avidity’s RNA platform for cardiology applications. Novartis will gain Avidity’s neuroscience pipeline, including late-stage clinical programs for muscular dystrophy. Shareholders will receive SpinCo shares or cash before the deal closes in the first half of 2026, pending regulatory approvals. Both companies will continue to operate independently until then.

Read more at Nasdaq: Novartis To Acquire Avidity Biosciences In $12 Bln Deal