Novartis to Pay Up to $2B for Excellergy’s Phase 1 Anti-IgE Candidate
Novartis agreed to pay up to $2 billion to acquire Excellergy Inc., securing exl-111, a Phase 1 anti-IgE antibody targeting asthma, eczema and food allergies. The deal, combining upfront and milestone payments, is slated to close in H2 2026 and strengthens Novartis’ IgE immunology franchise.
1. Acquisition Terms
Novartis will pay up to $2 billion for Excellergy Inc., comprised of an undisclosed upfront payment and additional earn-outs tied to development and regulatory milestones. The transaction is expected to close in the second half of 2026 pending customary regulatory approvals.
2. Candidate Profile
The deal secures exl-111, a Phase 1 anti-IgE monoclonal antibody designed to broaden symptom control across asthma, eczema, hives and food allergies by targeting immunoglobulin E pathways more comprehensively than existing therapies.
3. Strategic Rationale
This acquisition bolsters Novartis’ immunology portfolio and diversifies its allergy pipeline as generic competition intensifies on older blockbusters. Management views exl-111 as a potential long-term growth driver complementing its co-marketing of Xolair.