AveXis announced today that it has entered into an agreement to be acquired by the pharmaceutical company, Novartis. Highlights of the announcement follow:
- The proposed purchase includes AveXis’ lead compound for SMA as well as the pipeline programs for Rett Syndrome and ALS.
- The Rett program, AVXS-201, continues full steam ahead. Previously communicated timelines are on track.
- Novartis is committed to a leadership position in the gene therapy and neuroscience space. The AveXis purchase helps solidify this position.
- The acquisition of AveXis by Novartis brings increased resources and global reach to drive the AVXS-201 program forward.
- The purchase is expected to be completed by mid 2018. Until the transaction closes each company will continue to operate independently.
We encourage you to read the following materials, all of which include the Rett program, AVXS-201: