The Life Sciences team advised Synnovation Therapeutics, LLC ("Synnovation") on a definitive agreement for Novartis to acquire Pikavation Therapeutics, Inc. ("Pikavation") and its portfolio of PI3Kα inhibitor programs, including SNV4818. Pikavation is a wholly owned subsidiary of Synnovation. SNV4818 is a potentially best-in-class pan-mutant selective PI3Kα inhibitor currently in Phase 1/2 clinical trials for the treatment of HR+/HER2- metastatic breast cancer and other solid tumors. Under the terms of the agreement, Novartis will pay Synnovation $2 billion upfront in cash and up to $1 billion in development, regulatory, and commercial milestones, for a total potential cash consideration of up to $3 billion.
Synnovation is dedicated to the discovery and development of best-in-class therapeutics that can improve the lives of patients. By leveraging its deep expertise in biology and a world-class medicinal chemistry team, the company is building a diverse pipeline of novel small molecule targeted therapies. Synnovation's mission is to efficiently advance these agents into clinical trials with the goal of transforming care through patient-focused precision medicine. Synnovation's pipeline also includes SNV1521, a potentially best-in-class, next-generation PARP1-selective inhibitor currently in Phase 1, and multiple additional oncology and immunology programs.
The Goodwin team was led by Samuel Beavers, Sarah Solomon, and Kingsley Taft and included Noelle Dubiansky, Timothy Holahan, Heath Ingram, Dan Karelitz, Malhar Naik, Arman Oruc, Jake Osborn, Julie Tibbets, Kevin Walsh, Haley Carter, Matthew Dunay, Gozde Guckaya, Larissa Pinho, and Daniela Sanchez.
For more information on the deal, please read the press release and see coverage in FierceBiotech and Endpoints News.