Novartis AG (ADR) (NYSE:NVS) has agreed to buy Anthos Therapeutics in a deal worth up to $3.1 billion.
The Swiss drugmaker will pay $925 million upfront, with potential milestone payments of $2.15 billion.
Anthos, founded in 2019 by Blackstone Life Sciences and Novartis, focuses on stroke prevention and blood clot treatments.
Its key drug, abelacimab, is in phase III trials, with results expected in late 2026.
Anthos CEO Bill Meury said Novartis is well-placed to bring the drug to market.
The deal, expected to close in the first half of 2025, follows reports that Blackstone had been exploring a sale since late 2023.