Under the contract, Novartis will pay $2bn upfront and up to $1bn in milestones to acquire Synnovation Therapeutics’ wholly owned subsidiary Pikavation Therapeutics, which holds SNV4818 and related programmes.
Through the acquisition, Novartis plans to explore a new method to treat patients with hormone receptor-positive (HR+) / human epidermal growth factor receptor 2 (HER2)- breast cancer and other solid tumour indications.
SNV4818 is an oral drug and is presently being assessed in an ongoing Phase I/II trial for breast cancer and other advanced solid tumours.
The programme aligns with Novartis’ aim to develop treatments for breast cancer and complements existing cyclin-dependent kinase (CDK) inhibitors and endocrine therapies as part of potential combination strategies.
Preclinical data has demonstrated strong activity against common Phosphatidylinositol-4,5-bisphosphate 3-kinase catalytic subunit alpha (PIK3CA) mutations. Clinical evaluation is progressing.
The deal is anticipated to be finalised in the first half of 2026, subject to standard closing conditions and regulatory approvals.
Novartis development president Shreeram Aradhye said: “While mutated PI3Kα is a well-established driver in HR+/HER2- breast cancer, there remains a challenge in achieving effective pathway inhibition with a tolerable therapeutic profile.
“SNV4818 applies new mutant selective chemistry to more precisely target tumour biology while sparing normal cells. This approach has the potential to translate proven biology into improved tolerability and more durable benefit for patients through precision medicine.”
Earlier this week, Novartis received approval from the US Food and Drug Administration (FDA) for Cosentyx (secukinumab) to treat paediatric patients aged 12 years and above with moderate to severe hidradenitis suppurativa (HS).