Novartis has agreed to acquire Pikavation Therapeutics, a subsidiary of Synnovation Therapeutics. The deal includes an upfront payment of $2 billion. Potential milestone payments could add an additional $1 billion to the total transaction value.
The acquisition centers on the lead drug candidate SNV4818. This oral inhibitor targets HR+/HER2- breast cancer in patients with PIK3CA mutations.
Novartis aims to bolster its oncology portfolio and protect its existing market share. SNV4818 selectively targets mutated cancer cells to improve tolerability compared to the company's current treatment, Piqray.
The transaction remains subject to regulatory approvals. Both parties expect to finalize the deal in the first half of 2026.