Novartis Acquires SNV4818, a Pan-Mutant Selective PI3Kα Inhibitor, for $3 Billion to Advance Next-Generation Breast Cancer Therapy

Novartis announced on March 20 that it has reached an agreement with Synnovation Therapeutics to acquire SNV4818, a pan-mutant selective PI3Kα inhibitor, aiming to explore next-generation treatment options for HR+/HER2- breast cancer patients and potentially other solid tumor indications. SNV4818 is an oral medication currently in Phase I/II clinical trials for breast cancer and other advanced solid tumors. Under the terms of the agreement, Novartis will pay Synnovation Therapeutics an upfront payment of $2 billion and up to $1 billion in milestone payments to acquire Pikavation Therapeutics, a wholly-owned subsidiary of Synnovation.