Blackstone Life Sciences and Novo in Sale of Anthos to Novartis

Cleary Gottlieb is representing Blackstone Life Sciences (BXLS) and Novo Holdings A/S (Novo) in a definitive agreement under which Novartis AG (Novartis) will acquire 100% of the issued and outstanding equity of Anthos Therapeutics (Anthos) in an all cash transaction valued at up to $3.1 billion, including $925 million in up-front consideration and additional payments to be made subject to the achievement of post-closing earnout milestones, in each case, subject to certain adjustments.

The transaction was announced on February 11, 2025, and is expected to close in the first half of 2025, subject to certain regulatory approvals and other customary closing conditions.

Anthos was founded by BXLS 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.

Anthos Therapeutics is a transformative, clinical-stage biopharmaceutical company with the exclusive global rights from Novartis to develop, manufacture and commercialize abelacimab. BXLS is the majority investor in the company and is joined by other partners including Novo.

BXLS 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.

Novo is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. Novo is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S (Novozymes A/S) and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure, and private equity assets, Novo is a world-leading life sciences investor.

For more information, please see the press release.