Acquisition brings together Excellergy's differentiated trifunctional allergic effector cell response inhibitors (ECRIs) and the development expertise of Novartis, with a total potential transaction value of up to $2 billion –

– Exl-111 is a potentially first-in-class allergic trifunctional ECRI targeting the IgE axis and is currently in Phase 1 development –

Excellergy, a biotechnology company developing a novel class of allergy therapeutics, today announced it will be acquired by Novartis in a transaction with a total potential value of up to $2 billion in upfront and milestone payments. The acquisition brings together Excellergy's novel trifunctional ECRIs with the development expertise of Novartis.

Exl-111 is a trifunctional ECRI designed to disarm allergic effector cells at the source of activation by targeting the IgE axis. Exl-111 is currently being evaluated in the Phase 1 DISARM trial, a randomized, double-blind, placebo-controlled, single and multiple ascending dose trial, with the first subjects dosed in early February 2026.

"This acquisition validates the transformative potential of our ECRIs and the hard work of the entire Excellergy team. Novartis brings world-class global development capabilities and a proven track record of bringing novel medicines to patients. Together, we will be ideally positioned to realize the full potential of Exl-111 and the broader ECRI pipeline for the millions of patients living with severe, debilitating allergic diseases", said Todd Zavodnick, Chief Executive Officer of Excellergy.

“Excellergy adds a differentiated next-generation anti-IgE program that builds on biology Novartis knows well, supported by preclinical evidence and early clinical pharmacokinetic data,” said Fiona Marshall, President of Biomedical Research at Novartis. “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. This proposed acquisition strengthens our allergy portfolio and reflects our strategy of advancing innovative bold science to bring meaningful additional benefits to patients.”

Excellergy was seeded in 2021 by Red Tree Venture Capital and is backed by Samsara BioCapital, Red Tree Venture Capital, and Decheng Capital.

The transaction is subject to customary closing conditions.

Advisors
J.P. Morgan Securities LLC served as exclusive financial advisor, and Wilson Sonsini Goodrich & Rosati served as legal counsel to Excellergy on the transaction.