Novartis, a Swiss multinational pharmaceuticals corporation, has agreed to acquire Anthos Therapeutics from Blackstone Life Sciences for a total sum of $3.1bn. Under the terms of the agreement, an earnout clause has been implemented. This will be comprised of an upfront payment of $925m as well as additional payments amounting to over $2.1bn, subject to the achievement of certain milestones. It is expected that the deal will close within the first half of FY 2025. Morgan Stanley and Goldman Sachs have been appointed as financial advisors for the transaction.
Anthos Therapeutics was set up by Blackstone Life Sciences in 2019 after it licensed the drug abelacimab from Novartis. The treatments and medicines developed by Anthos Therapeutics aim to help prevent strokes and other serious blood clots, such as venous thromboembolism. David Soergel, the Global Head of Drug Development at Novartis, believes that abelacimab is a “first-in-class" medicine which will offer a safer and more effective thrombosis and stroke prevention option than the current products in the market. Novartis originally developed the drug and sees its return to the company as a strategic move. The company’s deep roots in the cardiovascular space positions them well to advance abelacimab’s clinical stage development and bring the product to patients worldwide. From Blackstone’s perspective, the transaction illustrates the private equity firm’s strategy of partnering and building with innovative drug companies. Global Head of Health at Blackstone, Dr. Nicholas Galakatos, has gone on record to state that abelacimab can become a leader in its drug class. This deal will mark the largest sale to date of a majority owned Blackstone Life Sciences company.
The market for venous thromboembolism treatments is projected grow at a CAGR of 3.9% from 2024 to 2034. Rising venous thromboembolism prevalence, driven by aging populations, sedentary lifestyles and obesity, continues to fuel demand the for advanced treatment options like abelacimab. Innovation remains a key driver, with pharmaceutical and medical device companies developing novel oral anticoagulants, injectable thrombolytics, and mechanical thrombectomy devices to enhance patient outcomes. Favorable healthcare policies and reimbursement frameworks further support market growth by encouraging investment in new therapies.
Just one month earlier, Stryker announced their $4.9bn acquisition of Inari Medical, a company which also specializes in treatments for venous thromboembolism. Deals within the cardiovascular space signify major healthcare players responding to rising global demand for advanced and robust treatments.
The acquisition at hand underscores Novartis’ commitment to expanding its cardiovascular portfolio, particularly in the growing market for venous thromboembolism treatments. By reacquiring abelacimab, the Swiss pharmaceuticals company aims to leverage its expertise to advance the drug’s development and commercialization. The deal also highlights Blackstone Life Sciences’ successful investment strategy in innovative biotech ventures. With strong market growth projections and increasing M&A activity in the cardiovascular space, this transaction reflects broader industry trends favoring novel anticoagulant therapies to meet rising global demand.
Written by: Ethan Lok
Sources: MergerLinks, Financial Times, Future Market Research, Reuters
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