03:34 AM EDT, 03/27/2026 (MT Newswires) -- Novartis AG ( NVS ) said Friday it agreed to buy private biotechnology firm Excellergy for as much as $2 billion in initial and milestone payments.

The proposed transaction includes an experimental early-stage IgE medication called Exl-111 designed to treat various allergic conditions, the company said.

The clinical therapy targets a specific biological driver of allergies to potentially provide faster symptom relief alongside more convenient dosing schedules, Novartis ( NVS ) said.

The acquisition is expected to finalize during H2, pending standard regulatory approvals and closing conditions, it said.