Novartis to Acquire Avidity Biosciences for $12 Billion to Advance RNA Therapeutics

Novartis has announced a definitive agreement to acquire Avidity Biosciences in an all-cash transaction valued at around US$12 billion. Avidity shareholders will receive US$72 per share, representing a premium of approximately 46 percent to its recent closing price. The acquisition reinforces Novartis’ strategy to expand its leadership in RNA-based medicines and strengthens its late-stage neuroscience and neuromuscular disease portfolio.

Avidity Biosciences is known for its Antibody Oligonucleotide Conjugates, or AOCs, which deliver RNA therapeutics directly to muscle tissue. The company has multiple clinical programs in development for rare neuromuscular disorders such as Duchenne muscular dystrophy, myotonic dystrophy type 1, and facioscapulohumeral muscular dystrophy.

Under the terms of the deal, Avidity’s early-stage precision cardiology programs and certain collaborations will be spun out into a separate public company, referred to as SpinCo, prior to the completion of the merger. The transaction is expected to close in the first half of 2026, pending regulatory approvals. Novartis expects the acquisition to enhance its growth outlook and accelerate innovation in precision RNA therapeutics.