Novartis To Pay $9.7bn For The Medicines Company
Bid Follows Strong Data For Twice-Yearly Gene Silencing Cholesterol Lowerer
Novartis is to acquire the Phase III siRNA drug inclisiran in a cash deal that swells its cardiovascular portfolio. The move will not be welcomed by Amgen, Sanofi or Regeneron.
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The company intends to use the series B cash to bring the first of its pan-amyloid removal (PAR) therapies into the clinic, while also advancing a diagnostic tool for systemic amyloidosis.
Private Company Edition: Clover’s $230m financing was the largest of recent mega-rounds. Century Therapeutics ($160m), Vividion ($135m) and eGenesis ($125m) also raised big rounds and investors Foresite Capital ($969m), Sofinnova Partners ($540m) and OMX Ventures ($150m) raised new VC funds.
Novartis hopes its new RNAi-based therapy will be a blockbuster – but must eventually show it can cut heart attacks and cardiovascular deaths.