Table of Contents
Novartis said on March 27, 2026 that it has agreed to acquire Excellergy, a private biotech developing next-generation anti-IgE therapies, in a transaction worth up to $2 billion in upfront and milestone payments.
The proposed deal adds Exl-111, a half-life extended, high-affinity anti-IgE antibody in Phase 1, and is expected to close in the second half of 2026, subject to customary closing conditions, including regulatory approvals.
The transaction extends Novartis’ allergy and broader immunology strategy through a program positioned for food allergy and other IgE-driven diseases. Novartis said Exl-111 is designed to dissociate receptor-bound IgE and drive faster, deeper pathway suppression, with potential to complement its existing allergy portfolio. Excellergy’s CEO Todd Zavodnick said the acquisition “validates the transformative potential of our ECRIs,” and that Novartis brings “world-class global development capabilities.”
The program’s differentiation is its focus on the IgE axis beyond free IgE alone. In a prior Onyx interview, CEO Todd Zavodnick said current anti-IgE therapies leave bound IgE untouched, while Excellergy’s ECRI approach was intended to remove bound IgE directly from mast cells and basophils and support what the company described as “total allergic control.”
Excellergy was seeded in 2021, and emerged from stealth in 2025 with a $70 million Series A backed by Samsara BioCapital, Red Tree Venture Capital, and Decheng Capital.
This is the second multi-billion dollar acquisition led by CEO Todd Zavodnick in as little as three years. His previous company Dermavant, which won FDA approval for VTAMA (the first topical novel chemical entity for psoriasis in over 25 years) was acquired by Organon for $1.2 billion in September 2024.
The club of CEOs who have won multiple FDA approvals is small: the absolute record for the most FDA wins is held by Leonard Schleifer (Regeneron), with 14 FDA approvals total since he founded the famous biotech in 1988. Whereas the record for the longest Home Run (i.e. leading the most biotech companies to an FDA approval) is held by Vivek Ramaswamy with six, who founded Roivant and the suite of 'Vant' companies (of which Dermavant was one).
I'm sure investors will be calling up Mr Zavodnick as soon as he takes the helm of his next venture. There's only so many times you can put success down to just good luck.
Sources: Excellergy press release; Novartis press release, GlobeNewswire Roivant press release
You can read our previous interview with Todd Zavodnick, from October 2025.
Comments