Novartis Acquires Blackstone’s Anthos Therapeutics In $3.1 Billion Deal

Swiss pharmaceutical giant Novartis has agreed to acquire Anthos Therapeutics, a biopharmaceutical company majority-owned by Blackstone’s Life Sciences unit, in a deal worth up to $3.1 billion to strengthen its cardiovascular portfolio, Reuters’ Ludwig Berger and Ariane Luthi reported.

The transaction marks the conclusion of a high-profile collaboration between a pharmaceutical major and a private equity firm—a funding model increasingly explored in the industry. I Photo: EuropaWire / Novartis

Anthos was co-founded in 2019 by Blackstone Life Sciences and Novartis to develop abelacimab, a treatment designed to prevent strokes and recurrent blood clots.

The deal underscores Novartis’ commitment to cardiovascular medicine, one of five core therapeutic areas it is prioritizing, as its best-selling heart failure drug Entresto faces patent expiration this year.

Expected to close in the first half of 2025, the transaction marks the conclusion of a high-profile collaboration between a pharmaceutical major and a private equity firm—a funding model increasingly explored in the industry.

Under the agreement, Novartis will pay $925 million upfront, with potential milestone payments of up to $2.15 billion, contingent on development achievements. A spokesperson for Blackstone described the deal as the largest sale to date of a majority-owned Blackstone Life Sciences company.