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Novartis has gone full circle with Anthos Therapeutics.

The Swiss pharma giant is doubling down on its expertise in the cardiovascular area by acquiring the clinical-stage biotech firm mostly owned by Blackstone Life Sciences.

Novartis already owns a minority equity interest in Anthos, though it has not disclosed how much. Anthos was jointly launched in 2019 by Blackstone Life Sciences and Novartis.

Under the terms of the agreement, Novartis will pay $925 million upfront and up to $2.15 billion, contingent upon achievement of regulatory and sales milestones. The transaction, which could reach $3.1 billion in total value, is expected to close in the early part of 2025. 

One of the factors that drove Novartis to reclaim Anthos is its fully monoclonal antibody that has shown to significantly reduce bleeding events.

The antibody, abelacimab, received Fast Track Designation from the Food and Drug Administration in 2022 for the treatment of thrombosis as well as the prevention of stroke and systemic embolism.

Once the transaction is complete, Novartis will take over the clinical testing of abelacimab, which is currently in Phase 3 development for patients at risk of arterial and venous clots. 

“We are excited to join forces to advance the development of abelacimab, a potential first-in-class treatment and safer approach for stroke prevention in atrial fibrillation as well as cancer-associated thrombosis,” said Shreeram Aradhye, president of development and chief medical officer of Novartis, in a statement. 

Aradhye added that scooping up Anthos strengthens the drugmaker’s focus in the cardiovascular space and complements its portfolio of treatments, clinical programs and strategic collaborations.

Abelacimab belongs to a class of drug known as Factor XI inhibitors, which is designed to replace established blood thinners on the market. 

XI inhibitors are a type of blood thinner that block the activation of Factor XI, which may reduce the risk of bleeding compared to traditional anticoagulants. 

Several of Novartis’ Big Pharma rivals, namely Bristol Myers Squibb, Pfizer and Johnson & Johnson, have established blood thinners on the market that generate billions in revenue. 

BMS and Pfizer’s Eliquis generated more than $12.2 billion in revenue in 2023. 

Some of these companies are also developing their own Factor XI inhibitors for blood clots. 

BMS and J&J received Fast Track Designation from the FDA for their own XI inhibitor Milvexian in 2023. 

Merck is also developing their own inhibitor, MK 2060, which received Fast Track Designation in 2022. 

Bayer was also in the race to develop a similar product, but halted its Phase 3 trial after discovering that Eliquis was more effective than its candidate at preventing strokes in patients with atrial fibrillation. 

In the hours since the deal was unveiled, Novartis’ stock has inched 0.45%.

The Anthos acquisition comes a few months after Novartis made some key strategic moves.

In mid-November, the drugmaker inked a $745 million partnership with radiopharmaceutical biotech Ratio Therapeutics to develop a cancer candidate.

Days later, Novartis bought Kate Therapeutics, a San-Diego based biotech company focused on developing gene therapies to treat neuromuscular disorders, for up to $1.1 billion.

In December, Novartis announced it would pay PTC Therapeutics up to $2.9 billion for its oral therapy to treat Huntington’s disease.