Novartis buying allergy start-up Excellergy; Otsuka takes out Transcend: Deals Report

Two billion-dollar takeouts attracted most of the attention among the week’s biotech deals, but two pharmas also acquired smaller private biotechs in pipeline-building transactions.

On Friday, Novartis AG (SIX:NOVN; NYSE:NVS) announced the acquisition of Excellergy Inc., giving the pharma anti-IgE antibody Exl-111. Now in Phase I testing, the molecule has potential in a range of immune and inflammatory conditions, including food allergy, allergic asthma, and chronic spontaneous or chronic inducible urticaria...