Swiss pharmaceutical company Novartis Pharma AG (SIX:NOVN) (NYSE:NVS) announced on Tuesday that it has signed an agreement to acquire Anthos Therapeutics, a clinical-stage biopharmaceutical company, for an upfront payment of USD925m.

This acquisition adds abelacimab, a late-stage monoclonal antibody targeting Factor XI inhibition, to Novartis' cardiovascular pipeline.

Abelacimab is in Phase 3 trials for preventing stroke and systemic embolism in patients with atrial fibrillation, as well as cancer-associated thrombosis. The drug has received Fast Track Designation from the US Food and Drug Administration (FDA) for both indications.

Anthos Therapeutics was founded in 2019 by Blackstone Life Sciences and Novartis, with abelacimab developed under a licence from Novartis. Phase 2 data showed the drug significantly reduced bleeding events compared to standard anticoagulants.

The agreement includes potential milestone payments of up to USD2.15bn based on regulatory and sales achievements.

Subject to customary conditions, the transaction is expected to close in the first half of 2025.