Novartis to Acquire Excellergy in $2 Billion Deal

The acquisition will strengthen Novartis' portfolio of treatments for food allergies and other immunology conditions.

Mar. 27, 2026 at 7:07am by Ben Kaplan

Got story updates? Submit your updates here. ›

Novartis AG has agreed to acquire biotech firm Excellergy Inc. for as much as $2 billion. The transaction, which includes upfront and milestone payments, is expected to close in the second half of this year, subject to conditions including regulatory approvals. Through the acquisition, Novartis will gain San Francisco-based Excellergy's drug candidate Exl-111, an anti-IgE antibody currently in early stage clinical testing that complements the company's existing allergy portfolio.

Why it matters

The acquisition will bolster Novartis' position in the growing immunology and allergy treatment market, which is seeing increased demand as food allergies and other immune-related conditions become more prevalent. Excellergy's drug candidate Exl-111 has the potential to complement Novartis' existing allergy portfolio and strengthen the company's pipeline of innovative treatments.

The details

The $2 billion deal includes upfront and milestone payments. Excellergy is a San Francisco-based biotech firm, and its lead drug candidate Exl-111 is an anti-IgE antibody currently in early stage clinical testing. IgE is a key component in treating allergies, and Exl-111 is expected to complement Novartis' existing allergy treatments.

  • The transaction is expected to close in the second half of 2026, subject to regulatory approvals and other closing conditions.

The players

Novartis AG

A Swiss multinational pharmaceutical company and one of the largest pharmaceutical companies in the world.

Excellergy Inc.

A San Francisco-based biotech firm that is being acquired by Novartis.

Got photos? Submit your photos here. ›

What’s next

The deal is subject to regulatory approvals and other closing conditions, and is expected to close in the second half of 2026.

The takeaway

The acquisition of Excellergy will strengthen Novartis' position in the growing immunology and allergy treatment market, providing the company with a promising drug candidate that complements its existing portfolio of allergy therapies.