Novartis has agreed to acquire Pikavation Therapeutics, a wholly-owned subsidiary of Synnovation Therapeutics, to gain control of SNV4818 and related PI3Kα inhibitor programs. The Novartis Synnovation acquisition, announced on March 19, 2026, covers a pan-mutant selective PI3K alpha small molecule inhibitor currently in Phase 1/2 trials for HR+/HER2- metastatic breast cancer and other solid tumors. Synnovation is a clinical-stage company headquartered in Wilmington, Delaware, focused on small-molecule targeted therapies in oncology and immunology.
Under the agreement, Novartis will pay Synnovation USD 2 billion in upfront cash and up to USD 1 billion in development, regulatory, and commercial milestone payments, for total potential consideration of up to USD 3 billion. No royalties, profit-sharing arrangements, or equity components were disclosed. The upfront payment represents approximately 67% of the total deal value. The transaction is expected to close in H1 2026, subject to antitrust review under the Hart-Scott-Rodino Act. Novartis will assume sole responsibility for all future development and commercialization of the acquired programs.
Deal context
SNV4818 is a small molecule designed to selectively inhibit multiple oncogenic mutations of PI3Kα while sparing the wild-type enzyme. PIK3CA mutations encoding PI3Kα are among the most common oncogenic alterations in HR+/HER2- breast cancer and occur across other solid tumor types. First-generation PI3Kα inhibitors, including Novartis's own alpelisib, inhibit both mutant and wild-type forms of the enzyme. This lack of mutant selectivity drives on-target toxicities including hyperglycemia, rash, and diarrhea. Pan-mutant selective inhibitors aim to widen the therapeutic window by concentrating activity on the disease-driving mutant protein. A Phase 1/2 trial evaluating SNV4818 as monotherapy and in combination with fulvestrant or palbociclib in patients with advanced PIK3CA-mutant solid tumors is ongoing, with enrollment of 320 participants across sites in Canada and Australia (NCT06736704). No clinical data from this trial have been publicly reported.