Novartis AG (NYSE: NVS) announced it will acquire Pikavation Therapeutics Inc. for $2 billion upfront and up to $1 billion in milestone payments. The acquisition gives Novartis access to SNV4818, an oral drug designed to treat HR+/HER2- breast cancer and other solid tumors.

SNV4818 is currently in Phase 1/2 clinical trials for breast cancer and advanced solid tumors. The drug targets mutated PI3Kα enzymes found in cancer cells while avoiding normal PI3Kα in healthy cells. According to the press release, approximately 40% of HR+/HER2- breast cancer patients have PIK3CA mutations in their tumors.

The drug differs from existing PI3Kα inhibitors by selectively targeting the mutated form rather than blocking both mutant and normal versions. This approach aims to reduce side effects and improve treatment tolerability, according to Novartis.

"SNV4818 applies new mutant‑selective chemistry to more precisely target tumor biology while sparing normal cells," said Shreeram Aradhye, President of Development at Novartis.

Pikavation Therapeutics is a wholly-owned subsidiary of Synnovation Therapeutics LLC, which holds a portfolio of pan-mutant selective PI3Kα inhibitor programs. The transaction is expected to close in the first half of 2026, subject to regulatory approvals and other customary closing conditions.

The acquisition aligns with Novartis's existing breast cancer treatment portfolio, which includes CDK inhibitors and endocrine therapies that could potentially be combined with SNV4818 in future treatment regimens.