WILMINGTON, DE — Novartis has agreed to acquire Pikavation Therapeutics, a subsidiary of Synnovation Therapeutics, in a deal valued at up to $3 billion to expand its oncology pipeline, the companies announced.
The agreement includes $2 billion in upfront cash and up to $1 billion in development, regulatory, and commercial milestone payments.
Pikavation’s portfolio includes SNV4818, a PI3Kα inhibitor currently in Phase 1/2 clinical trials for HR-positive, HER2-negative metastatic breast cancer and other solid tumors.
Under the terms of the deal, Novartis will assume responsibility for the development and commercialization of SNV4818 and related programs.
The transaction is expected to close in the first half of 2026, pending regulatory review, including clearance under U.S. antitrust laws.
Synnovation will retain ownership of its remaining research and development subsidiaries and continue advancing its pipeline, including SNV1521, a PARP1 inhibitor currently in Phase 1 trials.
Wenqing Yao, Synnovation’s chief executive officer, said the agreement is expected to accelerate development of SNV4818 for patients with PI3Kα mutation-driven tumors.
Centerview Partners is serving as financial advisor to Synnovation, with Goodwin Procter LLP and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. acting as legal advisors.
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