Blackstone Life Sciences and Anthos Therapeutics Announce Agreement for Anthos to be Acquired by Novartis for up to $3.1 Billion

Rhea-AI Summary

Blackstone Life Sciences announced that Novartis will acquire Anthos Therapeutics for up to $3.1 billion. The deal includes a $925 million upfront payment, with additional payments tied to regulatory and commercial milestones. The transaction is expected to close in first half of 2025.

Anthos, founded by Blackstone and Novartis in 2019, is developing abelacimab, a novel factor XI inhibitor for stroke prevention in atrial fibrillation patients and blood clot prevention in cancer patients. In the AZALEA-TIMI 71 trial, abelacimab showed significant advantages over rivaroxaban, including a 62% reduction in major bleeding, leading to early study discontinuation. Results were published in the New England Journal of Medicine in January 2025.

The company is currently conducting three phase 3 studies: LILAC-TIMI 76 for atrial fibrillation, and ASTER and MAGNOLIA for cancer-associated thrombosis, with data expected in second half of 2026.

Positive

• Acquisition deal worth up to $3.1 billion with $925 million upfront payment
• Abelacimab demonstrated 62% reduction in major bleeding vs. competitor drug
• Early trial termination due to superior efficacy
• Results published in prestigious New England Journal of Medicine

Negative

• Phase 3 trial results not expected until second half of 2026
• Deal completion subject to regulatory approval and closing conditions

Insights

Financial Analyst

This $3.1 billion deal marks a strategic win for Blackstone Life Sciences, showcasing their ability to create substantial value through their ownership investment model. The transaction's structure is particularly noteworthy: $925 million upfront with additional milestone payments demonstrates confidence in abelacimab's market potential while managing risk through performance-based compensation.

The deal's timing is opportune, coming shortly after the publication of impressive clinical results in the New England Journal of Medicine showing abelacimab's superior safety profile with a 62% reduction in major bleeding compared to current standard of care. This data significantly de-risked the asset and likely strengthened Blackstone's negotiating position.

For Blackstone investors, this exit exemplifies the firm's ability to identify, develop and monetize high-potential healthcare assets. The relatively quick turnaround from the 2019 founding to a $3.1 billion exit in 2025 represents an impressive return on investment. The global anticoagulant market, valued at approximately $27 billion, provides substantial room for growth, especially for safer alternatives like abelacimab.

This transaction validates Blackstone's strategy of building companies around promising assets and demonstrates their capacity to attract top-tier acquirers. The deal structure, with its milestone components, aligns well with industry practices while providing potential upside for Blackstone's investors if abelacimab achieves its commercial objectives.

Medical Research Analyst

The clinical data supporting this acquisition is remarkably robust. Abelacimab's demonstrated 62% reduction in major bleeding or clinically relevant non-major bleeding, 67% reduction in major bleeding and particularly impressive 89% reduction in gastrointestinal bleeding versus rivaroxaban represents a potential paradigm shift in anticoagulation therapy.

The early termination of the AZALEA-TIMI 71 trial by the Independent Data Monitoring Committee due to overwhelming clinical benefit is a strong validation of abelacimab's safety profile. Factor XI inhibition represents a novel approach that could potentially decouple antithrombotic efficacy from bleeding risk, addressing one of the most significant challenges in current anticoagulation therapy.

The ongoing phase 3 trials (LILAC-TIMI 76, ASTER and MAGNOLIA) targeting both atrial fibrillation and cancer-associated thrombosis demonstrate the broad potential applications of this therapeutic approach. The expected data readout in the second half of 2026 could further validate abelacimab's clinical utility across multiple indications.

Reflects the promise of the novel Factor XI inhibitor class of medicines to help prevent strokes and other conditions as well as Abelacimab’s potential to provide superior safety

Culminates growth journey as part of Blackstone Life Sciences

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Blackstone Life Sciences and Anthos Therapeutics, Inc. (“Anthos” or the “company”), a transformative, clinical-stage biopharmaceutical company developing innovative therapies for the treatment of cardiometabolic diseases, announced today that the company has entered into an agreement with Novartis to acquire Anthos for up to $3.1 billion. Anthos was founded by Blackstone Life Sciences and Novartis in 2019 with the exclusive global rights from Novartis to develop, manufacture, and commercialize abelacimab, a novel factor XI inhibitor that originated at Novartis, being developed to prevent stroke and systemic embolism in patients with atrial fibrillation as well as to prevent the recurrence of blood clots in patients with cancer.

“Abelacimab has the potential to be an important treatment option for the millions of patients globally with atrial fibrillation at high risk of stroke, and we could not have more conviction in the potential of this asset,” said Bill Meury, Chief Executive Officer at Anthos. “With its deep roots in the cardiovascular space, Novartis is especially well positioned to advance abelacimab’s clinical development and bring this innovative product to healthcare providers and patients. I am deeply grateful to the Anthos and Blackstone Life Sciences teams, the clinical investigators, the patients in our studies, the advocacy community, and many others who have played a role in Anthos’ success over the past six years.”

“We are proud to have launched and helped grow Anthos by acquiring the rights to abelacimab, assembling a world class team, designing the clinical plan and financing its development,” said Dr. Nicholas Galakatos, Chairman of Anthos’ Board of Directors and Global Head of Blackstone Life Sciences. “We believe abelacimab has the potential to be a leader in the new class of Factor XI anticoagulants and are pleased to have Novartis as a committed partner to advance the development and commercialization of abelacimab as a potential treatment option for the millions of patients at risk of strokes. This transaction is an affirmation of Blackstone Life Sciences’ ownership investment strategy, where we seek to find innovative products and build companies around them to meet unmet patient needs.”

In AZALEA-TIMI 71, abelacimab compared with rivaroxaban (Xarelto) demonstrated a 62% reduction in major bleeding or clinically relevant non-major bleeding, a 67% reduction in major bleeding, and an 89% reduction in gastrointestinal bleeding. The overall clinical benefit of abelacimab prompted the Independent Data Monitoring Committee to discontinue the study early. Results from AZALEA-TIMI 71 were recently published in the New England Journal of Medicine on January 23, 2025.

Anthos is currently conducting a phase 3 clinical study in patients with atrial fibrillation with high risk for stroke or systemic embolism (LILAC-TIMI 76) as well as two phase 3 studies in patients with cancer-associated thrombosis (ASTER and MAGNOLIA). Data from these trials are expected in the second half of 2026.

Blackstone Life Sciences’ investment in and commitment to Anthos demonstrate the power of combining its scale and deep operating expertise to build businesses that can help bring innovative products to market and substantially improve patient outcomes.

Transaction Details

Anthos shareholders will receive an upfront payment of $925 million upon closing of the transaction. In addition, Anthos shareholders are entitled to receive payments in the event certain regulatory and commercial milestones are achieved. Completion of the transaction is expected in the first half of 2025, pending the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and satisfaction of other customary closing conditions.

Advisors

Goldman Sachs & Co. LLC is acting as the lead financial advisor to Anthos. Morgan Stanley & Co. LLC is also serving as a financial advisor, and Goodwin Procter LLP is serving as legal advisor to Anthos.

About Anthos Therapeutics

Founded by Blackstone Life Sciences (BXLS) in 2019, Anthos Therapeutics is a transformative, clinical-stage biopharmaceutical company with the exclusive global rights from Novartis Pharma AG to develop, manufacture and commercialize abelacimab. BXLS is the majority investor in the company and is joined by other partners including Novo Holdings. For more information about Anthos, visit the Company’s website or follow us on X and LinkedIn.

About Blackstone Life Sciences

Blackstone Life Sciences is an industry-leading private investment platform with capabilities to invest across the life cycle of companies and products within the key life science sectors. By combining scale investments and hands-on operational leadership, Blackstone Life Sciences helps bring to market promising new medicines and medical technologies that improve patients’ lives and currently has $12 billion in assets under management.

About Abelacimab

Abelacimab is a novel, investigational, highly selective, fully human monoclonal antibody that binds tightly to Factor XI to block its activation and prevent the generation of the activated form (Factor XIa). This mimics natural Factor XI deficiency, which is associated with protection from thromboembolic disease.

Abelacimab received a Fast Track Designation from the FDA in July 2022 for the treatment of thrombosis associated with cancer. In September 2022, abelacimab was also granted a Fast Track Designation for the prevention of stroke and systemic embolism in patients with atrial fibrillation.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties, including statements regarding the proposed acquisition of Anthos by Novartis, the expected timetable for completing the transaction, future opportunities for the combined businesses, the expected benefits of Novartis’ acquisition of Anthos, the development and commercialization of Anthos Therapeutics’ product candidates and the potential benefits of abelacimab. All statements, other than statements of historical facts, contained in this press release, including statements regarding the company’s strategy, future operations, future financial position, prospects, plans and objectives of management, are forward-looking statements. The words “anticipate,” “become,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in, or implied by, such forward-looking statements. Actual results may differ materially because of numerous risks and uncertainties including with respect to (i) the possibility that various conditions to the consummation of the acquisition may not be satisfied or waived, including that a governmental entity may prohibit, delay or refuse to grant approval for the acquisition, (ii) the risk that the expected benefits or synergies of the acquisition will not be realized, (iii) the risk that the milestones may not be achieved and resulting payments may not be realized, and (iv) unanticipated difficulties or expenditures relating to the proposed acquisition, including the response of business partners and competitors to the announcement of the proposed acquisition or difficulties in employee retention as a result of the announcement and pendency of the proposed acquisition. The actual financial impact of this transaction may differ from the expected financial impact described in this press release. In addition, the compounds described in this press release are subject to all the risks inherent in the drug development process, and there can be no assurance that the development of these compounds will be commercially successful. No forward-looking statement can be guaranteed. In addition, the forward-looking statements included in this press release represent the company’s views as of the date hereof and should not be relied upon as representing the company’s views as of any date subsequent to the date hereof. The company anticipates that subsequent events and developments will cause the company’s views to change. However, while the company may elect to update these forward-looking statements at some point in the future, the company specifically disclaims any obligation to do so.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250210114240/en/

Blackstone

Paula Chirhart: Paula.Chirhart@blackstone.com

Anthos

Media contact: media@anthostherapeutics.com

Source: Blackstone

FAQ

What is the total value of Novartis' acquisition of Anthos Therapeutics?

Novartis will acquire Anthos Therapeutics for up to $3.1 billion, including an upfront payment of $925 million and additional payments tied to regulatory and commercial milestones.

What are the key clinical results for abelacimab compared to rivaroxaban?

In the AZALEA-TIMI 71 trial, abelacimab showed a 62% reduction in major bleeding or clinically relevant non-major bleeding, 67% reduction in major bleeding, and 89% reduction in gastrointestinal bleeding compared to rivaroxaban.

When are the Phase 3 trial results for abelacimab expected?

Results from the three Phase 3 trials (LILAC-TIMI 76, ASTER, and MAGNOLIA) are expected in the second half of 2026.

When is the Novartis-Anthos acquisition expected to close?

The transaction is expected to close in the first half of 2025, subject to regulatory approvals and customary closing conditions.

What medical conditions is abelacimab being developed to treat?

Abelacimab is being developed to prevent stroke and systemic embolism in patients with atrial fibrillation, as well as to prevent the recurrence of blood clots in patients with cancer.