Novartis NVS.US to acquire Anthos Therapeutics to bolster its cardiovascular drug pipeline, with a total transaction value of up to $3.1 billion.

Swiss pharma giant Novartis NVS.US announced on Tuesday that it has agreed to acquire biopharmaceutical company Anthos Therapeutics for up to $3.1 billion to strengthen its pipeline of late-stage cardiovascular drugs.

Anthos, which was co-founded by Blackstone BX.US's Blackstone Life Sciences and Novartis in 2019, is dedicated to developing, manufacturing, and commercializing a treatment called abelacimab for the prevention of strokes and the recurrence of blood clots.

Novartis stated that the deal is anticipated to close in the first half of this year, with the company paying $925 million upfront and up to $2.15 billion in additional payments based on future events.

Bill Meury, CEO of Anthos, said: "Novartis has a strong presence in cardiovascular, making it particularly well-suited to advance the clinical development of abelacimab and bring this innovative product to healthcare providers and patients."