A new biotech has taken flight as a result of Novartis’ red-hot $12 billion acquisition of muscular dystrophy specialist Avidity Biosciences. A spinout planned since that deal’s October announcement has now officially debuted as Atrium Therapeutics, with two preclinical cardio candidates in tow.
Atrium is led by Kathleen Gallagher, who previously spent five years at Avidity, most recently as chief program officer. To start, Gallagher will guide two small interfering RNA assets through investigational-new-drug-application-enabling studies, Atrium announced in a Feb. 27 release.
Atrium’s debut was timed to coincide with the closing of Novartis’ Avidity acquisition. Atrium has inherited Avidity’s spot in the stock market, albeit with a tweaked ticker symbol (“RNAM” instead of “RNA”). As of 10:30 a.m. ET, Atrium shares were trading at about $13.71.
The fledgling San Diego biotech has $270 million in cash in its pockets and is also investigating two undisclosed research targets.
“Building on Avidity’s pioneering work in targeted RNA delivery, Atrium is positioned to advance precision medicines designed to directly target the biologic drivers of cardiac disease,” Gallagher said in the release.
Atrium’s ATR 1072 is being developed for PRKAG2 syndrome, a rare genetic condition that causes arrythmia and thickening of the heart muscle. ATR 1086, meanwhile, is in the works for PLN cardiomyopathy, where calcium regulation goes haywire and heart failure can occur as a result.
Atrium plans to launch a phase 1 trial of ATR 1072 in the second half of this year and for ATR 1086 in 2027, according to the release.
“Patients and families facing these genetically driven rare cardiomyopathies have few if any options that address the underlying cause,” Gallagher said. “Atrium has the opportunity to help pave the way for a new era for RNA therapies in precision cardiology.”
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Atrium is not alone in pursuing RNA medicines for cardiovascular diseases. Corsera Health launched last fall with $50 million and a preventive RNA interference asset for heart disease, along with the expertise of industry titans Clive Meanwell, M.D., formerly of The Medicines Company, and John Maraganore, Ph.D., founding CEO of Alnylam Pharmaceuticals.
Atrium’s path to existence, budding off a Big Pharma’s absorption of another biotech, is uncommon but not unprecedented. When Scorpion Therapeutics’ PI3Kα program was snagged by Eli Lilly in January 2025, the biotech spun out Antares Therapeutics to advance three precision medicine candidates.
When Johnson & Johnson maneuvered to buy Swiss biotech Actelion for $30 billion about a decade ago, Idorsia emerged from the deal with $1 billion in the bank, multiple clinical-stage assets and a partnership with the Big Pharma already in place.
