FRANKFURT, March 20 (Reuters) - Novartis said on Friday it agreed to acquire breast cancer drug candidate SNV4818 from Synnovation Therapeutics for $2 billion upfront and up to $1 billion contingent
Novartis to buy experimental breast cancer drug in up to $3 billion deal
Novartis Expands Cancer Drug Pipeline with Synnovation Therapeutics Acquisition
FRANKFURT, March 20 (Reuters) - Swiss drugmaker Novartis on Friday agreed to buy a breast cancer drug candidate for up to $3 billion from U.S. biotech firm Synnovation Therapeutics, adding a targeted therapy to its pipeline of cancer drugs.
Deal Structure and Financial Terms
The company will pay $2 billion upfront and up to $1 billion that is contingent on further development achievements as part of the deal.
About the Experimental Drug SNV4818
Drug Class and Mechanism
The experimental drug, SNV4818, belongs to a class of selective PI3Kα inhibitors, a new approach for the treatment of a type of breast cancer known as HR positive/HER2 negative and potentially other solid tumours.
Pipeline Expansion and Clinical Trials
The acquisition adds to a growing pipeline of targeted cancer therapies, including a radioligand therapy candidate, that Novartis is already testing. SNV4818 is currently in early‑stage trials and has shown promising activity against tumors in lab studies, Novartis said.
Targeted Approach and Potential Benefits
Precision Targeting
Synnovation's drug targets only the mutated form of PI3Kα, an enzyme that often malfunctions in breast and other forms of cancer, while sparing the normal version found in healthy cells. And it aims to avoid the side effects seen with existing PI3Kα-inhibiting therapies.
Expert Commentary
"While mutated PI3Kα is a well‑established driver in HR+/HER2‑ breast cancer, there remains a challenge in achieving effective pathway inhibition with a tolerable therapeutic profile," said Shreeram Aradhye, the drugmaker's chief medical officer.
Deal Timeline and Closing
Novartis expects the deal to close in the first half of this year.
Reporting Credits
(Reporting by Ludwig Burger in Frankfurt and Bhanvi Satija in London, Editing by Himani Sarkar)
