Novartis announced on Mar. 27 that it has agreed to acquire California-based Excellergy in a deal valued at up to $2 billion, aiming to strengthen its immunology pipeline with a new anti-IgE antibody therapy for allergic conditions.
The acquisition is part of Novartis’ ongoing strategy to invest in early-stage therapies and diversify its product offerings. The agreement includes both upfront and milestone payments, though Novartis did not disclose specific financial details beyond the total potential value. The transaction is expected to close in the second half of 2026.
Central to the deal is Excellergy’s lead candidate, Exl-111, described as a next-generation antibody therapy targeting IgE molecules already bound to immune cell receptors. According to Excellergy’s website, this approach prevents receptor activation and reduces the likelihood of allergic responses by also downregulating receptor expression and decreasing re-sensitization potential.
“Exl-111 is designed to go beyond conventional anti-IgE therapy, with the potential to deliver faster and deeper suppression of IgE signaling as well as improved symptom control,” Fiona Marshall, president of biomedical research at Novartis, said in a prepared statement.
Exl-111 is currently being evaluated in an ongoing Phase 1 trial. Early pharmacokinetic data indicate sustained drug exposure and suggest a differentiated profile for the therapy. Novartis plans for Exl-111 to address food allergy, chronic spontaneous urticaria, allergic asthma, and other diseases driven by IgE.
Once acquired by Novartis, Exl-111 will join existing allergy treatments such as Xolair—a Roche-partnered drug originally approved for asthma in 2003 that was expanded in February 2024 for use against allergic reactions including anaphylaxis from food allergies. In March last year, head-to-head Phase 3 trial data showed Xolair outperformed oral immunotherapy at preventing food allergy reactions; Xolair generated $1.72 billion in revenue during 2025.
This latest move follows several recent acquisitions by Novartis aimed at broadening its pipeline across various therapeutic areas.
