Pharma BD Deal Intelligence
This deal was never an acquisition—Novartis licensed two Ionis/Akcea antisense cardiovascular candidates for $175M upfront in a deal that could have topped $1.35B in milestones, then dropped one asset (APOCIII-LRx) outright in 2019. The surviving candidate, pelacarsen, remains in Phase 3 with no approval or revenue nearly a decade after signing.
Not an acquisition at all — a cardiovascular licensing deal where Novartis dropped half the assets and the surviving one (pelacarsen) still has zero approvals or revenue after nearly a decade
Full analysis, sources & comparables →Ranks computed across 828 graded deals (Critic + Outcome Score both present).
Novartis hooked up with Ionis and Akcea to gain access to two Phase 1/2a antisense cardiovascular candidates targeting Lp(a) and ApoCIII, expanding its…
With positive Phase 2 data showing up to 80% Lp(a) reduction, Akcea and Ionis stood to receive $150M as Novartis exercised the option to license…
Novartis paid $150M to license the lead Lp(a) candidate, signaling confidence in pelacarsen as a potential first-in-class Lp(a)-lowering therapy heading into…
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Novartis entered a worldwide option and collaboration agreement with Ionis Pharmaceuticals and its Akcea Therapeutics subsidiary on two Phase 1/2a antisense cardiovascular candidates (AKCEA-APO(a)-LRx and AKCEA-APOCIII-LRx). Near-term payments of $175M total ($75M upfront + $100M equity in Ionis). Up to $600M (APO(a)) and $530M (APOCIII) in development/commercial milestones plus tiered royalties topping 20%. Novartis to fund Phase 3 CV outcomes trial upon option exercise.
Not an acquisition at all — a cardiovascular licensing deal where Novartis dropped half the assets and the surviving one (pelacarsen) still has zero approvals or revenue after nearly a decade
Assessment window: 10yr post-close.
Lipoprotein(a) [Lp(a)] is a genetically determined, causal risk factor for atherosclerotic cardiovascular disease, aortic stenosis, and stroke. Levels are largely unmodifiable by diet, exercise, or statins, leaving an estimated 64 million US adults with elevated Lp(a) without targeted pharmacologic options. Elevated ApoCIII similarly drives triglyceride-rich lipoprotein burden and residual cardiovascular risk in patients on statin therapy.
At the time of the 2016 deal, no therapy had been approved specifically to lower Lp(a). The cardiovascular lipid-lowering market was dominated by statins and the newly launched PCSK9 inhibitors Repatha (evolocumab, Amgen) and Praluent (alirocumab, Sanofi/Regeneron), both approved in 2015 at ~$14,000/year list price but with limited Lp(a) impact (~25-30% reduction at most). The Ionis/Akcea LICA antisense platform offered substantially deeper Lp(a) suppression (up to ~99%) by directly silencing hepatic LPA mRNA, and Novartis was buying optionality on what could become the first targeted Lp(a) drug. The deal positioned Novartis ahead of the eventual competitive set: Amgen's olpasiran (siRNA, ~94% Lp(a) reduction) and Lilly's lepodisiran (siRNA, ~94% reduction) entered Phase 3 only years later. AKCEA-APO(a)-LRx was rebranded pelacarsen (TQJ230) and Novartis exercised the option in 2019. Pelacarsen's Lp(a) HORIZON Phase 3 outcomes trial completed enrollment, with results pivotal to validating the Lp(a) class. Akcea later regained APOCIII-LRx rights (olezarsen) when Novartis declined to exercise that option.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Novartis AG / Ionis Pharmaceuticals, Inc. / Akcea Therapeutics, Inc. (this deal) | 2016 | $1.4B | 26 |
| Novartis AG / Advanced Accelerator Applications S.A. | 2017 | $3.9B | 98 |
| Novartis AG / Endocyte, Inc. | 2018 | $2.1B | 96 |
| Novartis AG / Lek Pharmaceuticals d.d. | 2002 | $876M | 88 |
| Novartis AG / GlaxoSmithKline plc | 2014 | $16.0B | 81 |
| Novartis AG / PTC Therapeutics Inc. | 2024 | $2.9B | 80 |
| Novartis AG / Chinook Therapeutics Inc. | 2023 | $3.5B | 78 |
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More: 2016 deals · Novartis AG deals · Cardiovascular deals